KSB to invest in solar power plant SPV
By: ICN Bureau
Last updated : January 25, 2021 8:26 pm
The new business entity proposes to establish, operate and maintain a solar power plant in the State of Maharashtra.
KSB Limited is investing and entering into a Limited Liability Partnership (LLP) namely Clean Max Circe Power LLP with Clean Max Enviro Energy Solutions Private Limited.
The said LLP proposes to establish, operate and maintain a solar power plant in the State of Maharashtra.
KSB Limited proposes to hold ownership interest in the LLP as per the requirements of the Electricity Act 2003 and the Electricity Rules, 2005 and to purchase energy generated from the said project as a captive consumer, according to the mutually agreed terms of the Energy Supply Agreement.
Investing and entering into LLP is subject to conclusion and implementation of definitive agreements.
KSB started manufacturing pumps in India from 1960 and has expanded its manufacturing base across six locations in the last 60 years. KSB India has invested a substantial amount in putting up a world-class facility at Shirwal, Pune to supply the pumps required for FGD applications are supplied from KSB’s latest world-class facility at Shirwal near Pune.