Tembo Global Industries Signs 124 MW Solar PPA in Maharashtra – EQ
In Short : Tembo Global Industries has signed a Power Purchase Agreement (PPA) for 124 MW of solar energy in Maharashtra. This agreement will support the state’s renewable energy goals and contribute to sustainable energy generation. The project is expected to enhance Tembo’s portfolio while promoting clean energy solutions in the region.
In Detail : New Delhi – Tembo Global Industries on Tuesday said it has secured a power purchase agreement (PPA) from the Maharashtra government for a 124 MW solar project in the state. This is its first-ever agreement for a renewable energy project, the company said in an exchange filing.
The agreement will involve a project cost of about Rs 595 crore and is expected to be executed within a time frame of 18 months.
Tembo’s solar project will not only contribute to the local energy supply but also create job opportunities and stimulate economic growth in the region. The company’s investment in solar energy is poised to enhance its portfolio and reinforce its position in the rapidly growing renewable energy sector.
Additionally, the project reflects the increasing focus on sustainable practices within the industry. By committing to solar energy, Tembo is contributing to the reduction of carbon emissions and promoting environmental sustainability in Maharashtra.
Overall, this PPA represents a significant advancement for Tembo Global Industries and the renewable energy landscape in India. As the company moves forward with this project, it sets a positive example for other businesses looking to invest in clean energy solutions.
