Shree Krishna Paper Mills Enters Power Purchase Agreement for Solar Energy, Plans 26.5% Stake in RGPOPL
Shree Krishna Paper Mills & Industries Ltd announced that its Board of Directors entered into a Power Purchase Agreement (PPA) for captive solar power supply. The agreement, executed on April 15, 2026, involves M/S Ratan Green Projects One Private Limited (RGPOPL) supplying solar power to the company as a captive user.The Board Meeting, held on April 15, 2026, solidified the arrangement with RGPOPL. Under the terms of the PPA, RGPOPL, acting as the Renewable Power Producer, will supply solar power to Shree Krishna Paper Mills & Industries Ltd.
In addition to the PPA, the company confirmed it is in the process of finalizing a Share Subscription and Shareholders' Agreement to secure a 26.5% equity share capital stake in RGPOPL.
Project Scope and Investment Details
RGPOPL is an entity that incorporated on December 11, 2025, and is currently setting up a significant renewable power facility. This project comprises an 8.5 MW AC / 12 MWp DC Solar and 1.3 MWh BESS power project located in Jadri, Bali, Pali, Rajasthan. The facility aims to supply power to captive users on a long term basis.To meet the captive requirements mandated under the Electricity Laws, the company, along with other captive shareholders, is required to hold not less than 26% of the share capital of RGPOPL and consume the generated solar energy from the project.
The total commitment for the share subscription and the details regarding the investment tranches are outlined below:
| Aspect | Detail |
|---|---|
| Target Entity | Ratan Green Projects One Private Limited (RGPOPL) |
| Sector | Renewable Power Producer |
| Project Type | 8.5 MW AC / 12 MWp DC Solar and 1.3 MWh BESS |
| Total Equity Subscription Amount | Rs 310.00 lakh |
| Subscription Percentage | 26.5% of Equity Share Capital of RGPOPL |
| Consideration Form | Cash consideration |
| Tranche 1 Amount | Rs. 93.00 Lakhs |
| Tranche 2 Amount | Rs. 217.00 lakhs |
Timeline for Acquisition
The subscription process is scheduled to occur in two tranches. The first tranche is due within 30 days from the execution date of the agreement. The second tranche is slated to be completed 30 days prior to the anticipated Commercial date of operation of the solar plant. The total cost of acquisition is not expected to exceed Rs. 310.00 lakhs.Stock Price Movement
Shree Krishna Paper Mills & Industries Ltd finished the day at ₹78.10, shedding ₹4.10, which represents a 4.99% drop. Throughout the session, shares navigated a considerable range, dipping to ₹78.09 before reaching a high of ₹82.20.Source:
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