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Hatsun Agro Product Limited to enter into PPA for purchase of solar power
Posted On : 2021-10-18 17:41:13( TIMEZONE : IST )
The Board of Directors of the Company at their meeting held today, i.e., 18 October, 2021, has approved the entering into of agreements viz., Power Purchase Agreement (with Swelect Renewable Energy Pvt. Ltd.), Shareholders' Agreement, Share Purchase Agreement and other related Agreements with Swelect Energy Systems Limited, Swelect Renewable Energy Private Limited (Wholly Owned Subsidiary of Swelect Energy Systems Limited) and other Captive Consumers for purchase of Solar Power under Captive User Model.
Hatsun Agro Product Limited has already started Consuming the Solar Power from 01.10.2021 from the recently Commissioned Solar Power Plant by Swelect Sun Energy Pvt. Ltd. which is expected to be around 2.25 Crore Units per annum resulting in a Cost Saving of about Rs.5.50 Crores (Rupees Five Crores Fifty Lacs) per annum. In addition to this, the Annual Solar Power consumption by Hatsun Agro Product Limited from the above said proposal under Point No.2 is expected to be around 1.45 Crore Units. This Offtake of Solar Power by Hatsun Agro Product Limited is expected to result in a Cost Saving of about Rs. 3.00 Crores (Rupees Three Crores Only) annually. The Project is expected to be Commissioned by the end of February, 2022.
Through the above said two Solar Projects, i.e., with the Solar Power Consumption from the already Commissioned Project and the proposed Project, the total Consumption of Solar Power by Hatsun Agro Product Limited will be around 3.70 Crore Units per annum and the Total Cost Saving will be around Rs.8.50 Crores per annum.
Shares of Hatsun Agro Product Limited was last trading in BSE at Rs. 1477.95 as compared to the previous close of Rs. 1456.85. The total number of shares traded during the day was 4223 in over 889 trades.
The stock hit an intraday high of Rs. 1533.65 and intraday low of 1465.00. The net turnover during the day was Rs. 6253709.00.
