India Glycols Limited executes Power Delivery Agreement with RGMTPL

India Glycols Limited has today i.e. 19th January, 2023 executed a Power Delivery Agreement with Renew Green (MHS TWO) Private Limited ("RGMTPL") to procure 17.5 MW AC Wind Solar Hybrid power, from grid connected Group captive Wind-Solar Hybrid Project proposed to be developed by RGMTPL at District- Solapur, Maharashtra ("Hybrid Project").

Further, in order to comply with regulatory requirement for the Hybrid Project being a 'group captive user' under Electricity laws, the Company has also entered into a Share Subscription and Shareholders' Agreement with ReNew Green Energy Solutions Private Limited and RGMTPL to subscribe up to 4.50% shareholding of RGMTPL, in one or more tranches.

Shares of India Glycols Limited was last trading in BSE at Rs. 722.75 as compared to the previous close of Rs. 731.05. The total number of shares traded during the day was 2480 in over 390 trades.

The stock hit an intraday high of Rs. 758.95 and intraday low of 721.30. The net turnover during the day was Rs. 1807048.00.

Source : Equity Bulls

Keywords

IndiaGlycols INE560A01015 PowerDeliveryAgreement HybridPower Wind Solar