By: ICN Bureau
Last updated : March 22, 2023 10:10 am
The investment is for purchase of renewable power under captive mechanism
Linde India Limited has invested a sum of Rs. 4.79 crore in FP Solar Shakti Private Limited towards subscription of 16,50,465 equity shares (18.29%) of face value of Rs. 10 each (allotted at a premium of Rs. 19.01 each). The investment is for purchase of renewable power under captive mechanism, which will result in a lower tariff and consequent cost savings.
FP Solar Shakti Private Limited was incorporated on 13th May, 2022, and is engaged in the business of establishing, commissioning, setting operation, and generation of electricity through renewable energy source such as wind, solar, and/or any other means in India or elsewhere, including transmission, distribution, supply and sale of such power either directly or through transmission lines and facilities of central/states governments or private companies or Electricity Board to industries and to central/state government and other consumers of electricity including captive consumption.