MoU12 Apr 2024, 11:02 pm
National Plastic Technologies Enter Into LLP Agreement For Wind Power Purchase
AI Summary
National Plastic Technologies Ltd. has entered into a Limited Liability Partnership (LLP) Agreement with four partners of Maris Power Trading Company LLP, contributing Rs.10,000 for 10% ownership, control, and 0.01% share in profit/loss. The partnership aims to purchase wind power at reduced costs through a Group Captive Power Purchase Mechanism. The power purchase agreement is initially valid for one year, with potential extensions.
Key Highlights
- National Plastic Technologies enters LLP agreement with Maris Power Trading Company LLP
- Company to invest Rs.10,000 for 10% ownership, control, and 0.01% share in profit/loss
- LLP to purchase wind power for National Plastic's units at Irrungattukottai and Hosur
- Power purchase agreement valid for one year with potential extensions
- Company expected to purchase upto 12 lakh units of wind power at reduced costs