Reportedly, Sami-Sabinsa Group has formalised an agreement with O2 Renewable Energy to establish a 240 MW renewable energy plant for long-term power supply.
The renewable energy facility comprises the installation of 100 MW of wind and 140 MW AC of solar power. The renewable energy project is designated to power Sami-Sabinsa’s manufacturing facilities in Karnataka and is slated for completion by January 2024. As part of the deal, the group and its subsidiaries will possess 17 per cent equity on a fully diluted basis, utilising 8.30 MW DC of renewable energy. Over a 25-year span, the company anticipates procuring 300 million units of solar power to support its seven production facilities in the state.