Tamilnadu Petroproducts Limited (TNPETRO) has announced an investment of up to ₹7,32,60,000 (Rupees Seven Crore Thirty-Two Lakh Sixty Thousand only) in Navia Three Power Private Limited (NTPPL). This investment, to be made in tranches, is to procure approximately 19.8 MWp (DC)/ 13.2 MW (AC) of solar power, fulfilling the company's requirement for captive power generation under the Electricity Act, 2003. NTPPL, incorporated on August 12, 2024, is a special purpose vehicle established for developing a wind-solar power generation facility in Tamil Nadu. TNPETRO's investment will translate to up to 26% of NTPPL's paid-up equity capital, aimed at optimizing power costs for TNPETRO. The acquisition is considered a cash consideration and does not fall under related party transactions, with no interest from promoters or group companies. The acquisition is expected to be completed on or before September 2026.
