From pv magazine India
Adani Green Energy Twenty Five B, a wholly owned step-down subsidiary of Adani Green Energy, has signed agreements to supply 20.8 MW of solar-wind hybrid power to Asahi India Glass.
The power will be sourced from a hybrid project at Khavda in the western Indian state of Gujarat, comprising a 25 MW solar power plant unit and a 20.8 MW wind power plant unit.
The parties have executed a power consumption agreement and a tripartite agreement governing the supply of renewable electricity from the project. In addition, Adani Green Energy Twenty Five B and Adani Renewable Energy Holding Four (AREH4L) have entered into an investment agreement with Asahi India Glass. AREH4L holds 100% of the equity share capital of Adani Green Energy Twenty Five B.
Under the power consumption agreement, applicable captive consumption rules, and the terms of the investment agreement, Asahi India Glass has committed to subscribe to at least 26% of the project-linked equity in Adani Green Energy Twenty Five B. The equity investment will be made in one or more tranches to meet the minimum captive shareholding requirement set out under India’s Captive Rules.
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