INDO-MIM Limited announced its decision to invest up to Rs. 97,500 in M/s. Meena Solar Power Park Private Limited, acquiring a 6.5% stake. This investment is driven by the statutory requirement under the Electricity Act and aims to enhance the company’s contribution to green power usage while reducing average energy costs. The target company, a special purpose vehicle incorporated in August 2024, will focus on constructing and operating a 16.80 MWp solar power plant in Tamil Nadu, with operations commencing in September 2026.
INDO-MIM Invests in Renewable Energy Initiative
INDO-MIM Limited has announced a strategic investment to acquire a 6.5% shareholding in M/s. Meena Solar Power Park Private Limited. The total investment is capped at Rs. 97,500. This move aligns with the company’s commitment to fulfilling statutory requirements under the Electricity Act and its objective to increase the utilization of green power.
Strategic Rationale and Benefits
The investment is expected to directly contribute to reducing INDO-MIM’s average energy consumption costs. Furthermore, it underscores the company’s proactive approach to environmental sustainability by supporting green energy initiatives. The acquisition is anticipated to be completed by December 31, 2026.
Target Company Overview
M/s. Meena Solar Power Park Private Limited is a special purpose vehicle incorporated on August 06, 2024. The company is dedicated to the construction, operation, and maintenance of an off-site, grid-connected photovoltaic ground-mounted solar power plant. Located in Tamil Nadu, India, the plant will have a total capacity of 16.80 MWp DC (or 12 MWp AC). The company commenced its business operations in September 2026. Its reported turnover for the financial year 2025-26 was Rs. 0.01 crore.
Source: BSE
