Mahindra & Mahindra (M&M) signed a Power Delivery Agreement with ReNew Sunlight Energy Private Ltd (RSEPL) whereunder RSEPL as a Captive Generator shall be imparting sun electricity to the Company as a Captive User.
The Company has also signed a Share Subscription and Shareholders’ Agreement (SSSHA) with RSEPL and ReNew Green Energy Solutions Private Limited for subscribing to at least one,60,74,000 Equity Shares, in one or more tranches, which would result in the Company conserving up to 31.2% of the Equity Share Capital of RSEPL.
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