CESC Ventures Into Green Hydrogen Domain

 https://youtu.be/TsATncw_xJs?si=-RNzWXcwfTNa1UwL

  • CESC Ventures Into Green Hydrogen Domain


  • Solar Energy Corporation India, a government of India enterprise, selected CESC Projects, for the green hydrogen facility. 
  • The investment in the venture could be in the region of Rs 450-500 crore
  • CESC will establish a green hydrogen plant, the first by the RPSG Group flagship, signalling its foray into new forms of energy.
  • The thermal power producer, which supplies electricity to Calcutta and its suburbs, will build a 10,500 tonne capacity unit on the east coast.
  • The new venture will be executed by CESC Projects Ltd, a wholly owned subsidiary of CESC Ltd. The project is going to get a fiscal incentive from the government of India as part of the National Green Hydrogen Mission unveiled in 2022.
  • Framework agreement with Envision Energy India Private Limited
    • Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with relevant circulars issued by the Securities and Exchange Board of India, would like to inform that Purvah Green Power Private Limited (“Purvah”), a subsidiary of CESC Limited has entered into a framework agreement (“Agreement”) with Envision Energy India Private Limited (“Envision”) (CIN: U31900KA2016PTC154720) (which is a domestic entity) for supply and commission of wind turbine generators (WTG) totaling 1 (one) GW, along with operation and maintenance services of the said WTGs for a period of ten years post-commissioning of the WTGs. 
    • Time period for supply and commissioning of WTGs are to be finalized in due course. 
    • Operations & Maintenance Agreement shall be for minimum period of 10 (ten) years from the weighted average date of commissioning of the WTGs. 
    • Further the promoter/ promoter group/group companies of Purvah have no interest in Envision and the aforesaid Agreement, is not a related party transaction.

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