Prism Johnson Ltd Terminates 24 MW Captive Wind Power Project Over Material Breach

Prism Johnson Ltd has terminated its captive wind power project aggregating 24 MW for supply to the Cement Plant of the Company at Satna, Madhya Pradesh. The termination was due to a material breach of the terms of the Power Consumption Agreement by ReNew Green (MPR Two) Private Limited, leading to the termination of the Share Subscription and Shareholders Agreement and Power Consumption Agreement entered by the Company with Renew and ReNew Green Energy Solutions Private Limited. The Company is entitled to claim Liquidated Damages and Termination Payment in terms of the PCA from ReNew, and reserves the right to take further recourse including making claims upon ReNew that the Company is entitled to make in terms of the PCA, SSSHA and the applicable law.