HomeRenewable energy ›Tembo Global Industries Inks INR 595 Crore PPA with Maharashtra Govt for 124 MW Solar Power Project

Tembo Global Industries Inks INR 595 Crore PPA with Maharashtra Govt for 124 MW Solar Power Project

Tembo Global Industries Ltd. has secured its first power purchase agreement with the Maharashtra state government for a 124 MW solar power project, with a total project cost of INR 595 crore.

October 16, 2024. By Mrinmoy Dey

Tembo Global Industries Ltd. recently announced that it has secured its first power purchase agreement (PPA) for a 124 MW solar power project with the Maharashtra state government. It will involve a total project cost of approximately INR 595 crores.

The project is slated for execution within the next 18 months, with the PPA extending for 25 years from the date of completion.

Commenting on the development, Sanjay Patel, Managing Director of Tembo Global Industries Ltd., stated, “This agreement is a pivotal moment for Tembo Global as we embark on our journey into the renewable energy sector. We are committed to contributing to India's sustainable development goals while providing innovative solutions that benefit both our clients and the environment.”

He further added that Tembo Global’s foray into solar power underscores its strategic vision to diversify its portfolio and invest in renewable energy sources. “The company, known for its expertise in engineering mechanics and project execution across various sectors—including oil and gas, chemicals, and construction—now takes a proactive approach to meet the growing demand for clean energy,” he said.
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