Primo Chemicals has entered into definitive agreements, including a Power Purchase Agreement and a Share Subscription & Shareholders' Agreement, to acquire a 26% equity stake in TPCS Private Limited.

This investment, for Rs. 21 crore, is for the development and operation of a 49.998 MW AC Solar Power Plant under a captive mode OPEX model.

The company's response is to formalize this strategic partnership, which is expected to align with captive power policies.

The issue and its impact are implicitly tied to securing renewable energy for captive use, potentially reducing operational costs and enhancing sustainability.