Privi Speciality Chemicals Ltd has taken a significant step toward strengthening its clean energy strategy by investing ₹1.77 crore in Radiance MH Sunrise Eleven Private Limited. The investment aims to increase the use of renewable power across the company’s operations and reduce dependence on conventional energy sources.
To formalise its participation, the company has executed a Power Purchase Agreement (PPA) along with a Share Subscription and Shareholders Agreement (SSSHA). Through this structure, Privi will participate in the renewable energy project via an equity stake in the special purpose vehicle (SPV).
Solar Power Project with 16.60 MW Capacity
The project will be developed by Radiance MH Sunrise Eleven Private Limited, which serves as the Special Purpose Vehicle (SPV) responsible for building and operating the solar power infrastructure. Currently, the SPV is developing a ground-mounted, grid-connected solar power plant with a planned installed capacity of 16.60 MW. Once operational, the facility will supply renewable electricity to participating companies, including Privi Speciality Chemicals. The initiative reflects the growing trend among industrial companies to secure long-term renewable energy supply through dedicated solar projects.
Captive Power Model Under Electricity Act
Through this investment structure, Privi Speciality Chemicals Ltd will qualify as a captive user under the Electricity Act, 2003. As a result, the company will be able to source renewable electricity directly from the solar project for its industrial operations. The captive power arrangement offers greater control over energy sourcing while ensuring a stable supply of renewable electricity.
Lower Emissions and Reduced Energy Costs
By sourcing electricity from the new solar facility, Privi aims to increase its clean energy consumption and reduce reliance on fossil fuels such as coal and natural gas. At the same time, the company expects the move to lower long-term electricity costs, as renewable energy projects can provide more predictable pricing compared with conventional power sources.
Supporting Long-Term Sustainability Goals
The investment forms part of the company’s broader sustainability and decarbonisation strategy. By integrating renewable power into its operations, Privi Speciality Chemicals Ltd aims to reduce its environmental footprint while supporting India’s transition toward cleaner energy systems. As per the press release, such initiatives are increasingly important for chemical manufacturers and energy-intensive industries, which are under growing pressure to adopt low-carbon energy solutions and improve environmental performance.
