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Privi Speciality Chemicals enters into agreements with Radiance MH Sunrise Ten

28 Dec 2022 Evaluate

Privi Speciality Chemicals has entered into a Power Purchase agreement (PPA) and a Share Subscription and Shareholders Agreement (SSSHA) with Radiance MH Sunrise Ten on December 28, 2022. Earlier, the Board of Directors had approved investment in Solar Power Project, by way of Equity participation through a Special Purpose Vehicle (SPV) to the extent of 26% of the Share Capital of the SPV subject to finalisation of the terms and conditions with the proposed SPV.

The objective of the acquisition is to become a captive user within the meaning as ascribed under the Electricity Act, 2003, and the rules (including the Electricity Rules, 2005). This will help generation of power through environment friendly resources and reduce the Company's dependence on coal & natural gas. The said acquisition will also lead to reduction in electricity cost of the Company.

Privi Speciality Chemicals is India's leading manufacturer, supplier and exporter of aroma and fragrance chemicals and a globally trusted partner and a preferd supplier of bulk aroma chemicals.

Privi Speciality Che Share Price

3077.80 -48.75 (-1.56%)
20-Apr-2026 15:26 View Price Chart
Peers
Company Name CMP
BASF India 3640.00
Tata Chemicals 704.00
SRF 2466.15
Pidilite Inds. 1389.10
Deepak Nitrite 1525.50
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