Investment5 Aug 2025, 06:42 pm
Navin Fluorine Invests in Special Purpose Vehicle for 6.60 MW Captive Hybrid Power Generation
AI Summary
Navin Fluorine International Ltd. has entered into a Power Supply and Offtake Agreement with Pro-Zeal Green Power Eleven Private Limited (SPV) for the supply of 6.60 MW captive hybrid - wind & solar power at the Company’s Surat Unit. The company also invested in the SPV for an amount not exceeding 6.60 crores, representing 26% of the equity shares and compulsory convertible debentures. This investment will facilitate significant savings on power costs and contribute to the company’s sustainability goals over the contract period.
Key Highlights
- Navin Fluorine to invest in Pro-Zeal Green Power Eleven Private Limited for 6.60 MW captive hybrid power generation
- Investment of up to 6.60 crores for 26% equity shares and compulsory convertible debentures
- Power cost savings and sustainability goals progression over the contract period
- The SPV is in the business of generation and transmission of wind and solar power for captive consumption
- The transaction is not a related party transaction