Please find attached intimation regarding execution of Power Purchase Agreement and Share Subscription Agreement with Murli Solar Energy Private Limited and Sunsure Energy Private Limited ....
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Saint Gobain Sekurit India has entered into a Power Purchase Agreement and Share Subscription & Shareholders' Agreement with Murli Solar Energy and Sunsure Energy for sourcing renewable energy. The company will acquire at least 26% stake in the power producer entity for INR 1.51 crore (₹10 per equity share at par). This strategic investment in renewable energy aligns with sustainability goals. The transaction is not a related party transaction and the parties are unrelated to the promoter group.
This acquisition of a 26% stake in a renewable energy venture signals the company's move toward clean energy sourcing and cost optimization. For shareholders, this indicates forward-looking ESG (Environmental, Social, Governance) initiatives that could reduce long-term energy costs and enhance environmental compliance.