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Siemens Will Procure Solar Power For Kalwa Plant

Siemens Ltd, in a stock exchange filing on 22nd October 2021 informed that it has planned to procure solar power from Sunsole Renewables for its manufacturing facility located at Kalwa in Maharashtra.

Siemens in its filling said that the company desires to procure renewable energy to reduce its carbon footprint for its manufacturing facility at Kalwa in Maharashtra. It further stated “Pursuant to statutory requirements, in order to avail such power/electricity for captive usage, Siemens Ltd is required to subscribe to at least 26 percent of the paid-up equity share capital of Sunsole”.

Sunsole was incorporated on February 4, 2020, as a special purpose vehicle by Cleantech India OA Pte Ltd to undertake the construction, operation, and maintenance of a solar power plant in Kalwa and to supply on a captive basis the power generated from the solar power plant.