Transrail Lighting to invest ₹20 crore in solar power project, acquire 49% stake
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Transrail Lighting will invest ₹20 crore to acquire a 49% stake in NOPL Pace Green Energy.
- ✓This move marks the company’s entry into renewable power.
- ✓They plan to develop a 990 MW solar portfolio in Maharashtra.
Story at a Glance
- Category
- BUSINESS
- Reported By
- cnbctv18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Transrail Lighting will acquire a 49% stake in NOPL Pace Green Energy for ₹20 crore, entering renewable power by developing a 990 MW solar portfolio in Maharashtra backed by a 25-year PPA. The deal includes an option to increase its shareholding to 100%.
Transrail Lighting Ltd has approved an investment of ₹20 crore to acquire a 49% stake in NOPL Pace Green Energy Pvt Ltd, marking its entry into renewable power generation.
In a regulatory filing on Monday, October 19, the company said the proposed acquisition is subject to the necessary approvals and completion of agreed conditions.
NOPL is developing a solar power portfolio with a capacity of around 990 MW (AC) in Maharashtra under Component C of the Centre's PM-KUSUM scheme. The project aims to help shift agricultural electricity connections to solar power and ensure farmers have better access to electricity for irrigation during the day.
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