Filatex India, under Gujarat’s Hybrid Wind-Solar Power Policy 2018, has signed Power Purchase Agreement (PPA) and Shareholder Agreement (SHA) with FP Crysta Energy and FPEL Sunrise respectively, 100% subsidiaries of Fourth Partner Energy, to procure renewable energy from their hybrid wind-solar open access power project as a captive consumer.
The company will be required to invest Rs 10.35 crore for a 26% stake in the project to attain captive status. The PPA will be valid for a period of 25 years. The company will source 10.8MW of Wind and 10.8MWp of Solar, totaling to estimated 50 million units of energy annually. This will result in savings of Rs 10+ crore annually and reduce the carbon footprints of the company. The project is scheduled for commissioning by March 31, 2023.
Filatex India is engaged in manufacture and trading of synthetic yarn and textiles. The company manufactures polyester and polypropylene multifilament yarn, and polyester chips.
Company Name | CMP |
---|---|
Trident | 39.06 |
Filatex India | 59.35 |
Sutlej Textiles&Inds | 58.30 |
Nahar Spinning Mills | 272.90 |
Nitin Spinners | 369.90 |
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