Polyplex Corporation's board approved investment of up to ₹110 Lakh in BECIS Solar 1 Private Limited for solar energy projects.
The investment acquires ~26% equity stake in BECIS Solar SPV under an Opex model at Khatima and Bazpur plants.
Deal objective is green energy adoption, energy cost optimisation, and compliance with captive power regulations under Electricity Laws.
Completion expected within approximately 365 days from execution of the Power Purchase Agreement and Shareholders' Agreement.