Ellenbarrie Industrial Gases Limited has informed the Exchange about Agreements
ELLEN · price
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Ellenbarrie Industrial Gases has signed a 25-year Power Purchase Agreement (PPA) with Pattikonda Renewables Private Limited, a captive power company formed by Ecoren Energy India and Ellenbarrie itself. Under the deal, a 6 MW Wind-Solar Hybrid Power Generation Facility will be set up in Ananthapur district, Andhra Pradesh, to supply renewable energy for Ellenbarrie's captive consumption needs. Ellenbarrie will take a minimum 26% equity stake in the producer company by investing approximately Rs. 7.08 crore at Rs. 10 per equity share. The parties are not related to Ellenbarrie's promoter group, and the transaction is not a related-party deal. The investment is modest in size relative to the company's operations.
The PPA secures long-term renewable power at predictable costs, supporting ESG goals and potentially improving the company's power cost structure over 25 years. The Rs. 7.08 crore investment is small and unlikely to move the stock materially, but it signals a step towards energy self-sufficiency and sustainability for shareholders.