Century Enka Limited Secures 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 concerns the establishment of a 9.9 MW wind-solar hybrid power plant to facilitate captive consumption for the company.The project involves setting up the solar and wind energy generation capacity, which will be utilized under the captive consumption mechanism in accordance with the Electricity Act, 2003 and the Electricity Rules, 2005. To qualify as a captive user of the generated power, Century Enka Limited is required to hold a minimum of twenty-six percent (26%) of the equity share capital of the power producer.
The Power Purchase Agreement stipulates that the power generated by the project will be exclusively supplied to one of Century Enka Limited's facilities located in Bhosari, Pune, Maharashtra under the Captive Rules. The project operation will be managed by the Power Producer.
Project Details Overview
Century Enka Limited has finalized the terms for the acquisition and development of this generation capacity through ABRELCEL. Key details regarding the contract and the associated entity are summarized below:| Particulars | Details |
|---|---|
| Name of Awarded Entity | ABREL Century Energy Limited (Power Producer), a Special Purpose Vehicle |
| Nature of Contract | Power Purchase Agreement (PPA) for setting up a 9.9 MW wind-solar hybrid power plant |
| Project Scope | Procuring power under the captive consumption mechanism |
| Time Period/Timeline | Scheduled commissioning date is June 30, 2026, with a grace period of three months |
| Commercial Size | 9.9 MW Wind-Solar Hybrid power plant |
| Related Party Status | The transaction falls within related party transactions and is considered to be at arm's length |
The Power Purchase Agreement outlines the terms for setting up the hybrid power plant, with ABRELCEL serving as the domestic Power Producer (SPV).
CENTENKA Stock Price Movement
On Friday, Century Enka Limited shares gained 3.02%, settling at ₹524.85 after the close. The stock saw robust trading, executing a total of 172,891 shares during the session.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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