Craftsman Automation Limited has informed the Exchange regarding '' Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we wish to inform you that the Company has made an equity investment in Viksha Green Energy Private Limited for solar power under the Group Captive Scheme as required under the provisions of the Electricity Act, 2003.
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Craftsman Automation has invested in Viksha Green Energy Private Limited to source solar power under the Group Captive Scheme as required by the Electricity Act, 2003. The investment is structured as an equity stake rather than a simple power purchase agreement, likely giving the company a share in the solar project's returns. This move is aimed at securing renewable energy supply for the company's operations. Exact investment size and capacity details were not disclosed in the filing.
This is a strategic step towards meeting renewable energy obligations and potentially reducing long-term power costs, but without disclosed investment size, the near-term impact on earnings or stock price is limited.