Allcargo Terminals Executes Power Purchase Agreement with Amokha Green Energy for Solar Power Procurement
Allcargo Terminals Ltd has executed a Power Purchase Agreement (PPA) with Amokha Green Energy Private Limited (AGEPL) for the procurement of solar power on a group captive basis. The agreement is aimed at fulfilling the company’s requirement to procure solar power for its Container Freight Station situated at Chennai. AGEPL has established a solar energy generating plant and is offering Solar Power at a reasonable rate in comparison to Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO). The company will consume a minimum of 80% of 3 lakh units of electricity per annum. As per the statutory requirement of the PPA, the minimum holding of equity shares in respect of all the Group Captive Consumers will be 26%. The company is required to make an investment of Rs 4,700 in the form of Equity Shares i.e. 47 Equity shares of Rs 100/- each.
Key Highlights
- Allcargo Terminals Ltd has executed a Power Purchase Agreement (PPA) with Amokha Green Energy Private Limited (AGEPL) for the procurement of solar power on a group captive basis.
- AGEPL has established a solar energy generating plant and is offering Solar Power at a reasonable rate.
- The company will consume a minimum of 80% of 3 lakh units of electricity per annum.
- As per the statutory requirement of the PPA, the minimum holding of equity shares in respect of all the Group Captive Consumers will be 26%.
- The company is required to make an investment of Rs 4,700 in the form of Equity Shares i.e. 47 Equity shares of Rs 100/- each.