The Board of Directors of Alpex Solar Limited accorded consent to the allotment of 25,873.27 sq.mtr. (~7 acres) of land by the Uttar Pradesh State Industrial Development Authority (UPSIDA) at Kosi Kotwan (on National Highway 19) in Mathura at an estimated sum of INR 15.04 crore. The company will release the first tranche of payment towards the allocated plot of land shortly.

The company notified the stock exchange that the land parcel would be used to set up a manufacturing facility for solar panels and modules and would receive the due approval of all the authorities at an appropriate time.

Commenting on the development, Ashwani Sehgal, Managing Director, Alpex Solar Limited, said, “The land allotment in Mathura is a significant development in terms of the company’s existing and future expansion plans. The land parcel is in one of the most prestigious industrial areas in Mathura and will be utilised for setting up a facility for manufacturing solar panels and modules. The industrial area at Kosi Kotwan (on NH-19) in Mathura is almost an extended part of NCR and easily approachable through the National Highway within an hour’s distance. The new location will provide easy access both in terms of logistics and vendor support.”