Welspun Corp is all set to make an investment not exceeding Rs 3.50 crore holding upto around 22.67% equity share capital in Bhargavi Renewable (BRPL), a subsidiary of Welspun Renewable Energy (WREPL).
The company and/or its subsidiaries propose to enter in Power Purchase Agreement (with Take or Pay arrangement) for supply of renewable power for a period of 25 years and will pay interest free security deposit upto around Rs 1.85 crore. The company and/or its subsidiaries will get power at the most competitive rates on arm’s length basis with a reduction in cost of power.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
