Phoenix Mills amends solar power deal with JSW Neo Energy unit
PHOENIXLTD · price
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Phoenix Mills and its subsidiary Offbeat Developers have amended an agreement to invest about Rs 5.77 crore in O2 Renewable Energy XXVIII, a JSW Neo Energy-promoted solar power unit. The investment, in equity shares and Series B compulsorily convertible debentures, secures captive renewable energy supply. Combined holding will not exceed 45 percent on a fully diluted basis, meeting the 26 percent captive user threshold under electricity rules. Deal size was reduced from the original plan announced in November 2025.
Secures long-term captive solar power for Phoenix Mills, supporting sustainability. Small capital outlay of about Rs 5.77 crore limits near-term earnings impact.