Havells India has approved the purchase of a 26 per cent stake in Kundan Solar Pali, a special purpose vehicle set up to develop, install, operate, manage, and maintain a solar power plant. The company said the move is part of its strategy to lower its reliance on fossil fuel and expand its use of green energy. Kundan Solar will build a 15 MWac plant, and Havells plans to sign a long term power purchase…
Epigral Limited has signed a Share Subscription and Shareholder’s Agreement (SSSHA) with Prozeal Green Energy Private Limited and its special purpose vehicle (SPV), Pro-Zeal Green Power Ten Private Limited. The agreement is for the procurement of power from a 19.8 MW wind-solar hybrid project located in Gujarat. Epigral will invest around Rs 213.8 million to acquire a 26 per cent equity stake in the SPV. The investment will support power procurement on a captive basis.
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…