India Glycols executes power delivery agreement with RGMTPL

To procure 17.5 MW AC Wind Solar Hybrid power, from grid connected Group captive Wind-Solar Hybrid Project proposed to be developed by RGMTPL

India Glycols Limited has executed a Power Delivery Agreement with Renew Green (MHS TWO) Private Limited (RGMTPL) to procure 17.5 MW AC Wind Solar Hybrid power, from grid connected Group captive Wind-Solar Hybrid Project proposed to be developed by RGMTPL at District- Solapur, Maharashtra (Hybrid Project).

Further, in order to comply with regulatory requirement for the Hybrid Project being a 'group captive user' under Electricity laws, the Company has also entered into a Share Subscription and Shareholders' Agreement with ReNew Green Energy Solutions Private Limited and RGMTPL to subscribe up to 4.50% shareholding of RGMTPL, in one or more tranches.