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KPI Global Infra and Chemie Organic Chemicals terminate PPA signed for 1.10 MW solar power plant – EQ Mag Pro

KPI Global Infra and Chemie Organic Chemicals terminate PPA signed for 1.10 MW solar power plant – EQ Mag Pro

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PPA was only at an initial stage and the process of the sale of power had not yet started, KPI Global Infra, said.

KPI Global Infrastructure Limited has terminated the power purchase agreement signed for the capacity of a 1.10 MW solar power plant under the Independent Power Producer (IPP) segment.

“We have received the Termination letter from M/s. Chemie Organic Chemicals (I) Pvt Ltd, Mumbai for terminating the Power Purchase Agreement (‘PPA’) signed for the Capacity of 1.10 MW Solar Power Plant under ‘Independent Power Producer (IPP)’ segment of the Company.

It may please to noted that this PPA was only an an initial stage and the process of the sale of power had not yet started,” the company said in a filing on Thursday.

At around 10.53 am, KPI Global Infra was trading at Rs121.65 per piece down Rs0.10 or 0.08% on the BSE.

Source: indiainfoline

Anand Gupta Editor - EQ Int'l Media Network