SJS Enterprises has successfully entered into a Share Subscription & Shareholders’ agreement and Power Supply & Offtake agreement with M/s Sunsource Energy (SEPL) and M/s Suryaurja One (SOPL) for supply of upto 3MWp of solar power by subscription of 10,50,000 Class A Equity Shares of SOPL amounting to a total consideration of Rs 1.05 crore at the subscription price of Rs 10 per Equity Share. Subsequently, the overall shareholding post subscription represents 7.34% of the Class A Equity Share Capital of SOPL.
SOPL is engaged in the business of power generation from renewable sources. Post-acquisition of Equity Shares of SOPL, Company will become captive consumer for the consumption of solar power generated by SOPL.
SOPL will build a solar (photovoltaic) power generation plant for the captive use of the Company which is proposed to be set up probably at Korwar – Indhanakal, taluk Chitapura, District Kalaburgi, Karnataka having an installed capacity of 3.0 MWDC which is equivalent to 2.0 MWAC (Project). The project will be set up as a captive power project in accordance with the Electricity Act 2003 and Electricity Rules, 2005.
SJS Enterprises is one of the leading players in the Indian decorative aesthetics industry, offered the widest range of aesthetics products in India.
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