Transrail Lighting share price will remain in focus on October 21 after company board approved the proposed acquisition of a 49% equity stake in NOPL Pace Green Energy at a cash consideration of Rs 20 crore, subject to the requisite approvals and completion of agreed conditions.
NOPL is developing a 990 MW (AC) solar portfolio in Maharashtra under the PM-KUSUM scheme.
The portfolio is backed by a 25-year power purchase agreement with MSEDCL at Rs 3.10 per unit
The indicative total project cost is approximately ₹3,900 crore.
The investment is structured to provide the company with financial and project management control under the agreed arrangements with Onix Renewable Limited.