Company has entered into Power purchase agreement

IMFA · price

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-2.2%1-day move

₹1495.80

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₹1509.90

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AI summary

IMFA has entered into a 29-year Power Purchase Agreement with EG Urja Strot Private Limited (incorporated March 2025) to source 65 MW hybrid renewable power comprising 81.4 MW solar, 102.6 MW wind, and 25 MWh Battery Energy Storage System. The agreement, structured as a Captive Consumer arrangement under the Electricity Act 2003, will cost Rs 110.18 crore in cash. IMFA will also subscribe to 26% equity in the power producer, with expected completion by June 2027. The transaction is not a related party deal and does not require any governmental approvals.

Likely market impact

This strategic partnership secures long-term renewable energy supply for IMFA's ferro alloy operations, potentially reducing electricity costs and carbon footprint while creating a captive power source.