Krystal Integrated Services' Associate Company Signs 25-Year Solar Power Purchase Agreement
Krystal Integrated Services Limited (KISL), formerly known as Krystal Integrated Services Private Limited, reports that its associate company, Advait Krystal Solar Energy SPV Private Limited (AKSESPL), has executed a major Power Purchase Agreement (PPA). The agreement was signed with key government bodies in Mumbai.The PPA involves the Directorate of Medical Education & Research, Mumbai, and the Directorate of Ayush (M.S) Medical Education & Drug Department, Mumbai. The collaboration aims to power various government hospitals and medical colleges in Maharashtra, India.
The core purpose of the agreement is the provision of services for twenty-five years (25) under a Built-Own-Operate-Transfer (BOOT) model. These services include Design, Engineering, Supply, Installation, Testing, Commissioning, Synchronizing, Operation and Maintenance for Power Grid Connected Rooftop Solar PV Systems.
According to the details provided regarding the agreement, KISL maintains a 49% shareholding in AKSESPL. However, the company is not a direct party to the agreement, nor does it hold any shares in either the Directorate of Medical Education & Research or the Directorate of Ayush (M.S) Medical Education & Drug Department.
The agreement places full responsibility for the design, financing, installation, operation, and maintenance of the solar systems, and the supply of power at an agreed tariff, on AKSESPL.
The impact on KISL's management and control remains unchanged, as the contract was executed solely by the associate company, AKSESPL. Furthermore, the deal does not impose any restriction, obligation, or corporate guarantee, meaning no quantifiable liability arises on KISL, limiting the company's exposure to its existing investment in the associate company.
The parties and structure of the agreement are summarized below:
| Aspect | Details |
|---|---|
| Associate Company | Advait Krystal Solar Energy SPV Private Limited (AKSESPL) |
| Counterparties | 1. Directorate of Medical Education & Research, Mumbai <br> 2. Directorate of Ayush (M.S) Medical Education & Drug Department, Mumbai |
| Stake in AKSESPL | KISL holds 49% shareholding. |
| Agreement Model | Built-Own-Operate-Transfer (BOOT) |
| Duration | 25 years |
| Services Scope | Design, Engineering, Supply, Installation, Testing, Commissioning, Synchronizing, Operation and Maintenance for Rooftop Solar PV Systems. |
KRYSTAL Stock Price Movement
Shares of Krystal Integrated Services Limited today slipped by 1.06% to settle at ₹575.15. The equity traded a total volume of 7,032 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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