Lloyds Metals and Energy Limited has entered into a share subscription and shareholders agreement (SSSHA) to acquire a 26 per cent equity stake in HR Godavari Private Limited, a special purpose vehicle incorporated by Hinduja Renewables Energy Private Limited.
The investment is part of Lloyds’ strategy to enhance its renewable energy sourcing through the group captive route and ensure compliance with captive power consumption regulations under electricity laws. The company has also signed two power purchase agreements with HR Godavari for 16.05 MWp and 70 MWp of solar capacity, respectively.