Business Update25 May 2026, 10:11 pm
IMFA Enters 29-Year Power Purchase Agreement with EG Urja
AI Summary
Indian Metals & Ferro Alloys Ltd (IMFA) has entered a 29-year Power Purchase Agreement with EG URJA STROT PRIVATE LIMITED on May 25, 2026, for 65 MW of hybrid renewable power. The agreement includes a solar capacity of 81.4 MW, wind capacity of 102.6 MW, and BESS of 25 MWh under a Captive Consumer structure. IMFA will acquire 26% equity in EG URJA STROT for ₹110.18 Crore in one or more tranches. The acquisition is expected to be completed by June 2027 and does not fall under related party transactions.
Key Highlights
- IMFA enters a 29-year power purchase agreement with EG Urja Strot.
- The agreement is for 65 MW of hybrid renewable power.
- IMFA will acquire 26% equity in EG Urja Strot for ₹110.18 Crore.
- The acquisition is expected to be completed by June 2027.
- The power purchase agreement is under a captive consumer structure.