IMFA Invests in Renewable Energy with EG Urja Strot Partnership
Indian Metals & Ferro Alloys Ltd (IMFA) acquires 26% stake in EG Urja Strot Private Ltd for Rs 110.18 crore, aiming for renewable energy integration. A 29-year Power Purchase Agreement ensures 65 MW hybrid renewable power supply for IMFA's ferrochrome operations, project completion expected by June 2027.
Indian Metals & Ferro Alloys Ltd (IMFA) has acquired a 26 per cent stake in EG Urja Strot Private Ltd for around Rs 110.18 crore.
The company has also executed a 29-year Power Purchase Agreement (PPA) with EG Urja Strot under the captive consumer structure, the company said in a regulatory filing. Under the pact, the company will receive 65 MW of hybrid renewable power supply for its ferrochrome operations.
The indicative timeline for completion of the project is June 2027.
Bhubaneswar-headquartered Indian Metals & Ferro Alloys Ltd (IMFA) is India's largest fully integrated producer of value-added ferrochrome.
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