Prism Johnson has awarded LOIs (Letter of Intent) for development of Captive Solar Power Projects via Special Purpose Vehicles (SPVs) at its manufacturing facilities located at Satna and Dewas in state of Madhya Pradesh, Pen in state of Maharashtra, Kunigal in state of Karnataka and Karaikal in state of Puducherry with an aggregate capacity of 22 MW.
These captive solar power projects are likely to be commissioned in next six to eight months timeframe. The company shall invest approximately Rs 8 crore in Captive Solar Power Projects towards acquiring the equity shareholding of 26% in the relevant SPV.
Prism Johnson (formally known as Prism Cement) is a building materials company. The company has interest in Portland cement, tiles, bathroom and kitchen (TBK) and ready mixed concrete (RMC).
