Primo Chemicals Invests ₹21 Cr in Solar Power Plant

Primo Chemicals Ltd has executed transaction documents to invest in a 26% equity stake in TPCS Private Limited, a Special Purpose Vehicle (SPV), for a 49.998 MW AC Solar Power Plant under captive mode on OPEX model. The investment consideration is ₹21 crores. The agreements include a Power Purchase Agreement (PPA) with TPCS and a Share Subscription and Shareholders' Agreement (SSSHA) with TPCS, Arpa Infrastructure Developers Private Limited, and Sun Photonics Private Limited. Primo will have certain rights, including first refusal on future stake transfers by the Promoter Group.