The long-term solar power arrangement is expected to deliver significant cost efficiencies for the Pritika Group of Industries, with estimated savings of approximately ₹110 crore over the 25-year tenure. Of this, Pritika Engineering Components Limited and Meeta Castings Limited are expected to benefit with savings of approximately ₹70 crore and Pritika Auto Industries Limited would benefit the balance savings for the same period.
As part of the proposed arrangement, a Special Purpose Vehicle (SPV) will be established for the solar power project. Pritika Engineering Components Limited is expected to hold 26% equity in the SPV on behalf of the Pritika Group of Industries, subject to the completion of applicable approvals and documentation.
The initiative is aligned with the Group’s focus on improving operational efficiency, reducing long- term energy costs and increasing the contribution of renewable energy to its power requirements.
The long-term solar power arrangement is expected to provide greater visibility on energy costs while supporting the Group’s sustainability objectives.
