Privi Speciality Chemicals Boosts Clean Energy with Solar Investment

Privi Speciality Chemicals Ltd has invested ₹1.77 crore in Radiance MH Sunrise Eleven Private Limited to strengthen its clean energy strategy. This investment, formalized through a PPA and an equity stake, enables Privi to source renewable electricity from a new 16.60 MW solar plant as a captive user. The initiative aims to reduce reliance on fossil fuels, lower long-term energy costs, and decrease its environmental footprint, supporting India's transition to cleaner energy.

Privi Speciality Chemicals Ltd has taken a significant step towards bolstering its sustainable energy strategy by investing ₹1.77 crore in Radiance MH Sunrise Eleven Private Limited. This strategic move aims to expand the use of renewable power across Privi's operations and reduce its dependence on conventional energy sources. The company has formalized its participation through a Power Purchase Agreement (PPA) and a Share Subscription and Shareholders Agreement (SSSHA), securing an equity stake in the special purpose vehicle (SPV) responsible for developing the project.Radiance MH Sunrise Eleven Private Limited is currently constructing a 16.60 MW ground-mounted, grid-connected solar power plant. Once operational, this facility will supply renewable electricity directly to participating companies, including Privi Speciality Chemicals. By structuring the investment this way, Privi qualifies as a captive user under the Electricity Act, 2003, granting it greater control over energy sourcing and ensuring a stable supply of renewable electricity. This transition is expected to lower long-term electricity costs due to more predictable pricing from renewable energy sources. This investment forms a critical part of Privi’s broader sustainability and decarbonisation strategy, aiming to reduce its environmental footprint and support India’s shift toward cleaner energy systems, a crucial step for energy-intensive industries facing pressure to adopt low-carbon solutions.