Monte Carlo Fashions Ltd. to Incorporate Wholly Owned Subsidiary for Solar Power Projects

Monte Carlo Fashions Ltd. has received multiple Letters of Award (LOAs) from Madhya Pradesh Urja Vikas Nigam Ltd. (MPUVNL) for setting up Solar PV based Power Plants for an aggregate capacity of 35 MW (AC) under the Surya Mitra Krishi Feeders Scheme — PM KUSUM- C. The company has decided to undertake the said business through a dedicated wholly owned subsidiary for focused execution and regulatory requirements. The new subsidiary, MCFL Energy Projects Private Limited, will be incorporated in India and will undertake solar power generation and related activities, including execution of solar PV based power projects pursuant to Letters of Award received from MPUVNL under the PM KUSUM C Scheme.