New Launch19 Feb 2025, 07:35 pm
Banganga Paper Mills Strengthens Commitment to Renewable Energy with 2.5 MW Solar Power Agreement
AI Summary
Banganga Paper Industries Limited, a leading manufacturer and supplier of high-quality kraft paper, has entered into a Power Purchase Agreement (PPA) with Livint Green Technologies Ltd. through its wholly owned subsidiary, Banganga Paper Mills Limited. The PPA is for the procurement of solar power under a captive power generation model, with Livint Green Technologies developing, owning, and operating a 2.5 MW DC ground-mounted solar power plant. This strategic move will provide energy security, enable the company to leverage carbon credits, and ensure a reliable and cost-effective renewable energy source for its manufacturing unit in Nashik.
Key Highlights
- Banganga Paper Industries Limited has entered into a Power Purchase Agreement (PPA) with Livint Green Technologies Ltd.
- The PPA is for the procurement of solar power under a captive power generation model.
- Livint Green Technologies will develop, own, and operate a 2.5 MW DC ground-mounted solar power plant.
- The solar facility will supply clean energy to Banganga Paper Mills' manufacturing unit in Nashik.
- The PPA has a minimum lock-in period of 15 years, with provisions for extension upon mutual agreement.