Century Enka Enters Power Purchase Agreement for 9.9 MW Wind-Solar Hybrid Plant
Century Enka Limited has executed a Power Purchase Agreement (PPA) with ABREL Century Energy Limited (ABRELCEL), a Special Purpose Vehicle (SPV). The agreement involves setting up a dedicated 9.9 MW wind-solar hybrid power plant to procure electricity through the captive consumption mechanism.The PPA outlines the terms for the generation and supply of power, which will be used exclusively by Century Enka Limited at one of its facilities in Bhosari, Pune, Maharashtra, under the Captive Rules. The project will be operated by the Power Producer.
Under the provisions requiring a minimum equity stake to qualify as a captive user, the company must hold at least 26% of the equity share capital of the power producer.
A key aspect of the agreement is that it constitutes a related party transaction and has been confirmed to be conducted at arm's length. ABRELCEL, being an SPV, is the entity awarded this contract.
The project specifics are detailed below:
| Particulars | Details |
|---|---|
| Power Plant Capacity | 9.9 MW Wind-Solar Hybrid power plant |
| Contractor/Awardee Entity | ABREL Century Energy Limited ('Power Producer'), a Special Purpose Vehicle |
| Nature of Contract | Domestic |
| Operational Details | The power generated will be supplied exclusively to one facility in Bhosari, Pune, Maharashtra under the Captive Rules. |
| Commissioning Date | June 30, 2027 (with a three months grace period) |
Initially, the scheduled commissioning date was noted as June 30, 2026; however, this has been corrected to reflect the actual target date of June 30, 2027. The company's commitment through this PPA ensures procurement power under the specified captive consumption mechanism.
CENTENKA Stock Price Movement
As of 11:30 AM, Century Enka Limited shares are gaining strongly in live trading, currently standing at ₹536.4 after climbing by 2.20%. The stock has seen robust movement today, with the traded volume reaching 97,359 as investors watch the equity navigate its intraday range.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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