AIA Engineering has executed Share Subscription and Shareholders' Agreement with Torrent Power (Sponsor) and Torrent Urja 16 (TUPL) to acquire / subscribe total 3,29,99,970 Equity Shares of Rs 10 of TUPL for setting up a captive Hybrid (Solar & Wind) Power Project in Gujarat. The company has also signed and executed Power Transfer Agreement (PTA) with Torrent Urja 16 for supplying contracted Hybrid (Solar & Wind) Energy to the Company as a Captive User.
The company wishes to offtake the Contracted Quantity of Electricity generated from the Project as a Captive User under intrastate open access arrangement for its manufacturing units in Gujarat in view of significant financial/commercial benefits.
AIA Engineering, a certified ISO 9001 company, specialises in the design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant castings used in the cement, mining and thermal power generation industries.
