From pv magazine India
Adani Green Energy Twenty Five B Ltd., a wholly owned step-down subsidiary of Adani Green Energy Ltd., has signed agreements to supply 20.8 MW of solar-wind hybrid power to Asahi India Glass Ltd.
The electricity 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 covering the supply of renewable electricity from the Khavda project.
In addition, Adani Green Energy Twenty Five B and Adani Renewable Energy Holding Four Ltd. have signed an investment agreement with Asahi India Glass. Adani Renewable Energy Holding Four Ltd 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 investment agreement, Asahi India Glass will subscribe to at least 26% of the proportionate equity share capital of the renewable energy project. The equity investment will be made in one or more tranches to meet the minimum captive shareholding requirement under India’s captive power regulations.
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