Allcargo Terminals Limited — Important, 28-01-2025: Capacity addition

Allcargo Terminals Limited has disclosed a Letter of Acceptance for the procurement of Solar Power on a Group Captive Basis at its Container Freight Station in Chennai. The project entails adding a capacity of 2 MW, with a proposed generation of 3,00,000 units per annum. The initiative is expected to be commissioned in March 2025, following the execution of the Power Purchase Agreement with Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO). The investment amounts to Rs 4,700 in 47 equity shares of Amokha Green Energy Private Limited, financed through private funding. This move positions the company favorably by allowing for significant savings in electricity costs, enhancing overall operational efficiency. Investors should note this strategic shift towards renewable energy as part of the company’s commitment to sustainability, which may positively impact its market position.