Date: 22nd June 2026
Board Meeting Outcomes
- The company has entered into a Power Purchase Agreement (PPA) with ABREL Century Energy Limited (ABRELCEL), a Special Purpose Vehicle (SPV)
- The agreement is for setting up a 9.9 MW wind-solar hybrid power plant for procurement of power under captive consumption mechanism
Other Operational / Legal / Strategic Disclosures
Power Purchase Agreement Details:
- Project: 9.9 MW wind-solar hybrid power plant
- Power Producer: ABREL Century Energy Limited (Special Purpose Vehicle)
- Power consumption: Captive consumption mechanism
- Power will be supplied exclusively to one of the company's facilities located at Bhosari, Pune, Maharashtra
- Scheduled commissioning date: 30th June 2027 (corrected from previously mentioned 30th June 2026)
- Grace period: 3 months
Regulatory Requirements:
- Under the Electricity Act, 2003 and Electricity Rules, 2005, the company must hold a minimum of 26% equity share capital of the power producer to qualify as captive user
Transaction Nature:
- This qualifies as a related party transaction
- The transaction is being conducted at arm's length
- The power producer is a Special Purpose Vehicle (SPV)
Regulatory Compliance:
- Disclosure made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Reference to SEBI Master Circular: Ref. No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Additional Information
- Company registration: L24304PN1965PLC139075