Privi Speciality Chemicals to Procure Solar Power from Radiance Renewables’ 16.60 MW Captive Project
Privi Speciality Chemicals invests about INR 1.78 crore in SPV Radiance MH Sunrise Eleven to procure power from Radiance Renewables’ 16.60 MW solar project in Maharashtra under a captive mode.
March 13, 2026. By Mrinmoy Dey
The company has signed a Power Purchase Agreement and a Shareholders’ Agreement to invest up to INR 1.776 crore in the project SPV Radiance MH Sunrise Eleven. The company has already invested about INR 1.78 crore by subscribing to 47,103 equity shares at INR 377 each (including a premium of INR 367 per share), the company stated in a regulatory filing.
Radiance MH Sunrise Eleven is engaged in the business of development, construction, operation and maintenance of solar power plants in India and presently is in the process of developing a ground-mounted, grid-connected solar PV plant in Maharashtra with a total installed capacity of 16.60 MW, it said.
As of FY 2024-25, Privi Speciality Chemicals had installed 10.5 MW of renewable energy across its operations, with clean energy meeting around 25 percent of its total electricity needs. The company targets sourcing 50 percent of its energy from renewables by 2032. In addition to adopting renewable power, energy efficiency initiatives delivered savings of 17.7 GWh and cut greenhouse gas emissions by 25,119 metric tons of CO₂ equivalent.
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