Indian Metals & Ferro Alloys Ltd. to Acquire 70 MW Hybrid Renewable Power from JSW Green Energy One Ltd. & ISW Green Energy Seven Ltd.

Indian Metals & Ferro Alloys Ltd. has entered into a Binding Term Sheet with JSW Green Energy One Ltd. and ISW Green Energy Seven Ltd. to supply hybrid renewable power of 70 MW Contracted Demand. The power supply will be under Captive Consumer structure as defined in the Electricity Act, 2003 and Electricity Rules, 2005. The power producer, JSW Green Energy One Ltd. and ISW Green Energy Seven Ltd., were incorporated in 2024 and their financial year is not completed yet. The acquisition does not fall within related party transactions and the promoter/promoter group/group companies do not have any interest in the entity being acquired. The renewable energy industry is the target sector for this acquisition. The company will acquire ~70 MW renewable power supply. The consideration is Rs. 83.26 Crore in one or more tranches. The date of incorporation for JSW Green Energy One Ltd. is 10th April’2024 and for JSW Green Energy Seven Ltd. is 21st June’2024. The acquired entity, JSW Green Energy One Ltd. and ISW Green Energy Seven Ltd., are based in India and their line of business is to build, develop, own, generate, supply, accumulate, transmit, distribute, store, purchase, sell electrical power or any other energy by using conventional and / or non-conventional methods.