MSP Steel signs PPA for 10MWp solar power at ₹3.17/unit for 25 years

MSP Steel & Power Ltd has executed a Power Purchase Agreement (PPA) with Elevate Solar Energy Private Limited to procure 10MWp (DC) of solar electricity annually. The power will be supplied at a tariff of ₹3.17 per unit for a term of 25 years. This agreement, under the Group Captive Open Access mechanism, aims to optimize energy costs and boost the company's renewable energy consumption. MSP Steel & Power will also acquire a 26% shareholding in Elevate Solar Energy Private Limited, corresponding to its contracted energy quantity, with a Shareholders’ Agreement to be executed later. The solar facility is being developed in Chhattisgarh with an installed capacity of 70 MWP (DC).