Filatex India Ltd. signed PPA and SHA agreements with FP Crysta Energy Pvt. Ltd. and FPEL Sunrise Pvt. Ltd., both wholly owned subsidiaries of Fourth Partner Energy Pvt Ltd., to purchase renewable energy from their hybrid wind-solar open access power project as a captive consumer.
To obtain captive status, the Company must pay 10.35 crore for a 26 percent share in the project. The PPA will be in effect for 25 years.
The company will source 10.8MW of Wind and 10.8MWp of Solar, totaling to estimated 50 million units of energy annually.
This will result in savings of Rs 10+ crore annually and reduce the carbon footprints of the company.
