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The investment is made to get renewable energy which will benefit the company from a cost-saving perspective.
An established player in the Indian snack foods market, Delhi-based DFM Foods Limited has recently agreed to make an investment in Belenus Solar Private Limited (BSPL), based in Hyderabad, by acquiring or subscribing equity shares amounting to Rs 96 Lacs (5.57 per cent of total paid-up capital of BSPL).
BSPL own, operate and maintain a solar power plant for captive consumption at Village- Biswan, Sitapur in the state of Uttar Pradesh. The investment is made by DFM Foods to get renewable energy which will benefit to the Company from cost saving perspective.
Further, the shares will be acquired within 3 months upon signing of Power Purchase Agreement and Shareholders Agreement.
Belenus Solar Private Limited (BSPL) was incorporated on July 2, 2019. It is formed as special purpose vehicle and is engaged in the business of establishing, commissioning, setting up, operating and generating of electricity/ power supply through renewable energy sources such as wind, solar and/ or any other means including transmission, distribution, supply and sale of such power either directly or through transmission lines.