Magna Electro Signs Solar Captive Power Agreement

Magna Electro Castings signed a Captive Power Agreement and Share Subscription Agreement with First Energy TN 1 Pvt Ltd on 30th March 2026.
The company invested Rs. 39.60 Lakhs for 3,96,000 equity shares, raising its stake in FETN1PL from 6.25% to 7.83%.
The acquisition is to meet the minimum 26% captive user shareholding requirement under Electricity Act, 2003, adding 1.1 MWp solar capacity.