Investment6 Feb 2026, 09:32 pm
Tamilnadu Petroproducts Ltd to Invest ₹ 7 Crore in Navia Three Power Private Limited for Captive Power Generation
AI Summary
Tamilnadu Petroproducts Ltd has entered into an arrangement with Navia Three Power Private Limited (NTPPL) to procure solar power of approximately 19.8 MWp (DC)/ 13.2 MW (AC). The company agreed to invest in the equity of NTPPL up to a sum of ₹ 7 Crore in tranches to meet the requirement of Captive power generation under Electricity Act, 2003. NTPPL is a special purpose vehicle incorporated under the Companies Act, 2013, with the objective of developing a wind-solar power generation facility in the state of Tamilnadu.
Key Highlights
- Tamilnadu Petroproducts Ltd to invest in Navia Three Power Private Limited for captive power generation
- Investment of up to ₹ 7 Crore in tranches
- NTPPL to generate solar power of approximately 19.8 MWp (DC)/ 13.2 MW (AC)
- NTPPL incorporated under the Companies Act, 2013 for power generation
- Optimizing the power cost of the Company