Elgi Equipments has entered into a Share Subscription and Shareholders’ Agreement and Power Purchase Agreement with Constronics Energy Solution (SPV) to acquire 18.01% of share capital. Cost of acquisition is Rs 1.62 crore. The proposed investment envisages procurement of renewable energy for the consumption of the company over a tenure of 25 years with an objective of long-term tariff visibility and optimisation of power costs.
Elgi Equipments is a global air compressor manufacturer with a broad line of innovative and technologically superior compressed air systems.