Australian Premium Solar (India) Limited — Important, 28-02-2025: Updates

Aplus Solar Cell Private Limited, a subsidiary of Australian Premium Solar (India) Limited, has signed a Memorandum of Understanding (MoU) with SPL Technopark for the phased purchase of industrial land for manufacturing "Topcon Solar Cell" and other industrial applications in Ahmedabad, Gujarat. The first phase involves acquiring 1,85,401.69 square meters of land, while the second phase introduces new parties to purchase an additional 12,836.99 square meters. There is also an option for a third phase to acquire 1,00,000 square meters. The agreed rate is ₹1,651 per square meter. The MoU is set to be executed within six months, subject to renewal. As a related party transaction, this agreement is conducted at arm's length, with Australian Premium Solar holding a 51% stake in SPL Technopark. This strategic move could enhance the company’s manufacturing capabilities and production capacity, positioning it favorably in the solar energy market. Investors should watch closely for developments on this front.