Transrail acquires 49 percent stake in solar power SPV for Rs 20 crore
TRANSRAILL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Board approved acquiring 49 percent stake in NOPL Pace Green Energy for up to Rs 20 crore in cash. Target is building a 990 MW solar portfolio in Maharashtra under the PM-KUSUM scheme with a 25-year PPA with MSEDCL at Rs 3.10 per unit. Total project cost is about Rs 3,900 crore with debt financing already sanctioned. Target is not yet operational and reported no revenue in FY25 or FY26. Onix Renewables holds 51 percent. Target will become an associate company. Not a related party deal.
Diversifies into renewable power generation with contracted revenues. Modest Rs 20 crore cash outlay for 49 percent stake in a large solar project.