Capital Market  Last Updated at December 16, 2021 14:31 IST

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At meeting held on 15 December 2021

In line with the above, Linde India will be entering into joint venture agreements with the identified solar power generating companies through the Special Purpose Vehicles (SPVs) to be set up in due course to qualify as captive consumer of the power.

The Board has approved Linde India's plan to acquire equity in the joint venture SPVs up to a limit of 26% with solar/wind power generators for supply of renewable power to the aforesaid merchant air separation units.

On the formation of the SPVs, the Company will be signing the Power Purchase Agreements and Share Subscription and Shareholder Agreements with them, after which, the Company will acquire the equity in the SPVs as per the approval of the Board as aforesaid.

This will help replace high-cost tariff power from Grid with lower cost and green solar power on a long-term basis.

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