Schedule a Call Back
Delhi
Meghmani Finechem Limited (MFL), manufacturer of Chlor-Alkali and its value added derivatives, announced that it has entered into agreements with Renew Green Energy Solutions Pvt Ltd for setting up a wind-solar hybrid power project. The collaboration marks the entry of MFL into the renewable energy space and highlights its unwavering commitment towards promoting green energy and reducing carbon footprint.
Meghmani Finechem has executed an energy subscription agreement (ESA) and share subscription and shareholder agreement (SSSHA) for putting up an 18.34 MW wind-solar hybrid power plant in Gujarat under a Special Purpose Vehicle (SPV) with Renew Green Energy Solutions Pvt Ltd.
MFL will hold 26% stake in the SPV for a contribution of Rs 20.54 crore and ReNew Green Energy Solutions Pvt Ltd will contribute Rs 58.46 crore for a 74% stake.
This hybrid power plant is expected to be commissioned in Q3FY23. As per the terms of the agreement, the power generated from the plant will be supplied exclusively to MFL under the captive status for tenure of 25 years.
This arrangement is a step towards entering into the green/renewable energy sector thus reducing carbon footprint and conserving the environment. This hybrid power plant will help MFL meet the energy requirement of its existing as well as future projects. The cost per unit of electricity through this hybrid power plant will be lower than the power procured from the electricity grid.
Commenting on the arrangement Maulik Patel; Chairman and Managing Director – MFL said: At Meghmani Finechem, our team is focused on protecting the environment by using the best and latest technology. We endeavour to further strengthen our position in protecting the environment by getting into green energy (Wind-Solar Hybrid Power Plant).
His focus will be on expanding the dealer network, boosting market penetration, towards service and sales excellence, and strengthening brand presence across the country.
Read moreThe Phase IV, Part C project includes the construction of various major integral components – 1) a 258 km, 765kV transmission corridor connecting South Olpad (GIS) S/s to Boisar-II (GIS) S/s., 2) ..
Read moreIR will need 30,000 MW of renewable capacity by 2029-30 to achieve this goal.
Read morePOM Systems & Services Pvt Ltd offers a wide range of
PCS power conversion systems energy storage.
Transparent Energy Systems Private Limited offers a wide range of Hot water generators - Aquawarm Superplus.
Fluid Power Machines offers hydraulic scrap baling press. Read more
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
Hi There!
Now get regular updates from IPF Magazine on WhatsApp!
Click on link below, message us with a simple hi, and SAVE our number
You will have subscribed to our Industrial News on Whatsapp! Enjoy
Schedule a Call Back