Investment5 May 2026, 07:31 pm
Primo Chemicals invests ₹21 Cr in TPCS for Solar Plant
AI Summary
Primo Chemicals Ltd. has invested in TPCS Private Limited, a Special Purpose Vehicle (SPV) incorporated on February 13, 2026, for a 50 MW solar power plant. Primo Chemicals will hold 26% equity in TPCS. The investment is expected to result in cost savings of up to ₹24 crores per annum. The company is in the process of executing Power Purchase Agreement and Share Subscription and Shareholders Agreement.
Key Highlights
- Primo Chemicals invests in TPCS Private Limited for a 50 MW solar power plant.
- The company will acquire 26% equity stake in TPCS Pvt. Ltd.
- Investment aims to save up to ₹24 crores annually through captive solar power.
- TPCS Private Limited was incorporated on February 13, 2026.
- Primo Chemicals will invest ₹21 crores in the equity capital of TPCS Pvt. Ltd.