MRF Ltd enters into captive power purchase agreement with First Energy 5 Pvt Ltd

MRF Ltd has entered into a captive power purchase agreement with First Energy 5 Private Limited for purchase of wind power under the captive power policy of the Government and in this connection will be acquiring upto 11.95% of the paid up equity of the Company.

Rs.11.35 Crores will be invested for subscribing to the equity share capital of the Company.

First Energy 5 Private Limited, is a Company incorporated under the Companies Act, 2013 bearing Corporate Identification Number: U40200PN2022PTC216938 and having its registered office at 6th Floor, Office No. 601, Cello Platina F.e. Road Shivajinagar, Pune, Maharashtra- 411 005. The Company is engaged in the business of development, construction, operating and maintaining renewable energy based power plants in India and presently is in the process of developing/ constructing a ground mounted, grid wind electric generating facility at Thalaikattupuram, Tuticorin District in the state of Tamil Nadu for wind power with a total installed AC capacity of 39 MW AC.

Shares of MRF Limited was last trading in BSE at Rs. 112261.50 as compared to the previous close of Rs. 111524.80. The total number of shares traded during the day was 109 in over 84 trades.

The stock hit an intraday high of Rs. 112449.15 and intraday low of 111800.00. The net turnover during the day was Rs. 12234314.00.

Source : Equity Bulls

Keywords

MRF INE883A01011 Captive PPA FirstEnergy5 Investment