Business Update1 Aug 2024, 05:16 pm
Welspun Specialty Solutions Ltd Signs 25-Year Power Purchase Agreement with Related Party for Renewable Solar Power
AI Summary
Welspun Specialty Solutions Ltd has entered into a Power Purchase Agreement with Bhargavi Renewable Private Limited, a related party, for procuring renewable solar power at competitive rates. The agreement is for a period of 25 years and is for 15.5 MWp capacity. This move is a significant step towards reducing the company's carbon footprint and strengthening its ESG initiatives.
Key Highlights
- Power Purchase Agreement signed with related party Bhargavi Renewable Private Limited
- Agreement for 15.5 MWp capacity renewable solar power
- Competitive rates for procured power
- 25-year agreement term
- Significant step towards reducing carbon footprint and strengthening ESG initiatives