India Glycols has executed a Power Delivery Agreement with Renew Green (MHS TWO) (RGMTPL) to procure 17.5 MW AC Wind Solar Hybrid power, from grid connected Group captive Wind-Solar Hybrid Project proposed to be developed by RGMTPL at District- Solapur, Maharashtra (Hybrid Project).
Further, in order to comply with regulatory requirement for the Hybrid Project being a ‘group captive user’ under Electricity laws, the company has also entered into a Share Subscription and Shareholders’ Agreement with ReNew Green Energy Solutions and RGMTPL to subscribe up to 4.50% shareholding of RGMTPL, in one or more tranches. The objects of acquisition is to enable the company to become Group Captive User and consume hybrid wind-solar power generated by RGMTPL, thereby meeting its green energy needs and optimise energy cost.
India Glycols manufactures Industrial Chemicals such as green technology based bulk, specialty and performance chemicals and natural gums and industrial gases; Ethyl Alcohol (Potable) and nutraceuticals.
