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Waaree Renewable Subsidiary Signs 300 MW Solar PPA with Global Tech Giant
Sunsational Power Private Limited, a wholly owned subsidiary of Waaree Renewable Technologies, has signed a long-term Power Purchase Agreement (PPA). The agreement is for a 300 MW Inter-State Transmission System (ISTS) connected solar power project. The counterparty is a leading global tech giant with significant and growing energy requirements in India. This deal provides long-term revenue visibility and strengthens the company's position in the renewable energy sector.
Key Highlights
Signed a long-term PPA for a 300 MW ISTS-connected solar power project
Agreement executed by 100% subsidiary Sunsational Power Private Limited
Counterparty is a leading global tech giant with expanding Indian operations
Project utilizes Inter-State Transmission System (ISTS) for power evacuation
💼 Action for Investors
Investors should view this as a significant positive development for long-term revenue growth and order book strength. Monitor for updates on project execution timelines and specific tariff details if disclosed.
Bharti Airtel Receives Demand Notice with ₹1,82,47,052 Penalty
Bharti Airtel has received a demand notice from the Office of the Collector of Stamps, Mumbai, regarding an alleged short levy of stamp duty on an ‘Agreement of Sale of Power’ executed in 2014. The notice includes a penalty of ₹1,82,47,052. The company is currently examining the merits of the demand and exploring available legal remedies. This development could have a financial impact on the company to the extent of the penalty levied.
Key Highlights
Demand notice received from Office of the Collector of Stamps, Mumbai.
Penalty of ₹1,82,47,052 imposed for alleged short levy of stamp duty.
Alleged short levy of stamp duty related to a 2014 agreement.
💼 Action for Investors
Investors should monitor the outcome of Bharti Airtel's legal proceedings regarding the demand notice. Any significant financial impact from the penalty could affect the company's profitability.