For purchase of solar power as a single captive user
Bharat Forge has entered into a power purchase agreement and shareholders' agreement dated 09 February 2022 with Avaada MHVidarbha (AMHVPL) to purchase solar power on a Single Captive User basis thereby agreeing to acquire 26% equity stake for approximately Rs. 11,37,50,000 in AMHVPL.The investment is being made in compliance with the provisions of Electricity Act, 2003 and rules made thereunder for supply of solar power of capacity upto 32.50 MW DC equivalent to 25.0 MW AC per annum.
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