Greenply Industries Limited has informed the Exchange about that the Company s Wholly Owned Subsidiary (WOS) Greenply Sandila Private Limited has made total investment of INR 45,00,000/- (26% of total equity) in equity shares of Albano Solar Private Limited for developing a group captive power generation facility in the state of Uttar Pradesh, having a capacity of 1.5 MW (AC). The said power will be used by the WOS for its manufacturing unit situated at Plot No. H-2, Phase II, Sandila Industrial Area, Raiso, Hardoi, Uttar Pradesh.
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Greenply Industries' wholly owned subsidiary, Greenply Sandila Private Limited, has invested Rs 45 lakh (26% equity stake) in Albano Solar Private Limited. The investment is aimed at setting up a 1.5 MW (AC) group captive solar power generation facility in Uttar Pradesh. The power generated will be used to meet the energy needs of the WOS's manufacturing unit located at Sandila Industrial Area, Hardoi, UP. This move indicates a step towards renewable energy adoption for the company's manufacturing operations.
The investment size is relatively small and is unlikely to materially affect the stock price. However, it signals a positive sustainability direction by reducing reliance on conventional power and potentially lowering long-term energy costs for the Sandila unit.