Lloyd Metals to form SPVs for 100 MW solar power
Author: PPD Team Date: December 23, 2024
Lloyd Metals and Energy Limited plans to form two special purpose vehicles (SPVs) with Amplus Energy Solutions and Hinduja Renewables Energy for procuring 100 MW solar power for its captive use.
The company will invest Rs 250 million and Rs 270 million to acquire a 26 per cent stake in the SPVs with Amplus Energy and Hinduja Renewables, respectively.
The SPVs will develop and operate captive solar plants, ensuring sustainability and cost efficiency.
Lloyd Metals will procure at least 51 per cent of the solar power generated by each SPV for its consumption.