Investment8 Mar 2025, 07:20 pm
India Pesticides Ltd Signs Power Purchase Agreement with Fourth Partner Solar Power Private Limited
AI Summary
India Pesticides Ltd has signed a Power Purchase Agreement (PPA) and Shareholders Agreement (SHA) with Fourth Partner Solar Power Private Limited on March 08, 2025. The PPA is for enhancing the company's source of renewable power energy and supply of renewable energy. The company will subscribe to shares up to 4% of Fourth Partner Solar Power Private Limited by investing Rs. 1.92 crores. The agreement allows the company to source solar power from the said SPV for a term of 25 years from the commercial operations.
Key Highlights
- India Pesticides Ltd has signed a Power Purchase Agreement (PPA) and Shareholders Agreement (SHA) with Fourth Partner Solar Power Private Limited.
- The PPA is for enhancing the company's source of renewable power energy and supply of renewable energy.
- The company will subscribe to shares up to 4% of Fourth Partner Solar Power Private Limited by investing Rs. 1.92 crores.
- The agreement allows the company to source solar power from the said SPV for a term of 25 years from the commercial operations.
- The company is yet to subscribe shares and the class of shares issued will be decided after valuation.