"MRF Ltd Enters Captive Power Purchase Agreement with First Energy 5 Pvt Ltd"

MRF Ltd has formalized a captive power purchase agreement with First Energy 5 Private Limited for the procurement of wind power, aligning with the captive power policy established by the Government. As part of this arrangement, MRF Ltd is set to acquire up to 11.95% of the paid-up equity of First Energy 5 Pvt Ltd, signaling a strategic move towards sustainable and renewable energy sources.

The investment for this equity acquisition will amount to Rs.11.35 Crores, demonstrating MRF Ltd's commitment to supporting and participating in the renewable energy sector. First Energy 5 Pvt Ltd, a company incorporated under the Companies Act, 2013, is dedicated to the development, construction, operation, and maintenance of renewable energy-based power plants in India.

The company, with its registered office located at 6th Floor, Office No. 601, Cello Platina F.e. Road Shivajinagar, Pune, Maharashtra- 411 005, is currently involved in the development and construction of a ground-mounted, grid wind electric generating facility at Thalaikattupuram, Tuticorin District, Tamil Nadu. This facility is designed for wind power and is anticipated to have a total installed AC capacity of 39 MW AC, contributing to India's renewable energy landscape.

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