Emmvee Photovoltaic Power Pvt Ltd has signed its first power purchase agreement (PPA) with Pennar Industries Limited for 10 years. The power will be generated at Emmvee’s solar photovoltaic power plant at Hindupur district in Andhra Pradesh.
Pennar Industries Limited is one of the leading engineering organizations in India renowned for providing global innovative engineering solutions with a diverse product range that includes Cold Rolled Steel Strips, ERW and CDW Tubes, Railway wagons and Coaches, Electro Static Precipitators, Metal Crash Barriers, Building Products, Sheet Metal Components and Solar Module Mounting Structures.
8.6 million Units of electricity will be sold annually to Pennar Industries from the power generated at the Emmvee’s photovoltaic plant at Hindupur. The power plant was completed in a mere 12 weeks. The generated power will be used for two of Pennar’s six manufacturing facilities based in Patancheru and Isnapur, Medak district in the state of Andhra Pradesh. The substations near to the manufacturing plants will be the power delivery point. The power will be drawn at the Pennar plants through ‘Open Access’ system.
President and CEO, Pennar Industries Limited, Mr. Suhas Baxi expresses on partnering with Emmvee for their power requirements, “Power Security and energy cost is an area of concern for most companies today. We believe that Solar Power now offers an interesting alternative to conventional sources of Power. Our agreement with Emmvee will allow us to address some of the concerns related to Reliability, Availability and Cost of Power”.
Speaking about the event, Mr. D.V. Manjunatha, founder and Managing Director, Emmvee group, says, “We are glad to announce that we have signed our first PPA with Pennar Industries for their power requirements. We appreciate Pennar’s pioneership in signing an open source PPA with us. We look forward to build strong relationship with Pennar Industries”.
