Mahanagar Gas Invests Rs. 389 Lakh in FPEL Reliant for Solar Power Plant Setup

Mahanagar Gas Ltd. has entered into a Share Subscription and Shareholders' Agreement (SSA & SHA) with FPEL Reliant Energy Private Limited (FPEL Reliant) and its holding company FPEL Saur Vidyut Private Limited (FPEM Saur) to acquire 26% of equity stake in FPEL Reliant. The investment of Rs. 389 Lakh will be used to set up a solar power plant in the State of Maharashtra for consumption at CNG stations. The acquisition is aimed at meeting green energy needs, optimizing energy costs, and complying with regulatory requirements for power consumption by the Company as per the Electricity Act, 2003 read with the Electricity Rules, 2005. The acquisition is expected to be completed within 6 months from the date of execution of the SSA & SHA. FPEL Reliant is a company incorporated in India in July 2022, with no turnover in the last three financial years. The net worth of FPEL Reliant as on March 31, 2025, was Rs. (-) 4.73 Lakh.