Share Subscription and Shareholders Agreement has been signed between the Company, Hinduja Renewables Energy Private Limited and HR Godavari Private Limited, for the Company to subscribe atleast 26% of the total paid-up equity share capital of HR Godavari Private Limited
LLOYDSME · price
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Lloyds Metals and Energy Limited has signed a Share Subscription and Shareholders Agreement with Hinduja Renewables Energy Private Limited and HR Godavari Private Limited to subscribe to at least 26% of the paid-up equity share capital of HR Godavari. This follows the company's December 2024 board approval to source 100 MW of solar power through the group captive route. Along with this, the company has signed two captive solar Power Purchase Agreements (PPAs) with HR Godavari for 16.05 MWp/10.70 MWac and 70 MWp/50 MWac of solar power. The 26% minimum stake is required to comply with Electricity Rules for Captive Generating Plants. The company will also have pre-emptive rights and affirmative voting rights on key matters affecting its captive consumer status. The transaction is not a related party transaction, and the parties are not related to the promoter group.
This move strengthens Lloyds Metals' renewable energy sourcing for its operations, reduces long-term power costs, and locks in captive solar power supply. Partnering with the marquee Hinduja Group adds credibility, though the financial impact will depend on the cost savings versus current power expenses.