Privi Speciality Chemicals invests ₹1.77 crore in 16.6 MW solar project

Privi Speciality Chemicals has committed USD 1.77 million for a 5.80% equity stake in Radiance MH Sunrise Eleven Private Limited's 16.6 MW solar project in Maharashtra. This 2026-03-11 announced investment strategically positions the India-based manufacturer to secure long-term green power through a Power Purchase Agreement. The commercial logic for Privi centres on reducing energy costs for its industrial chemical operations while simultaneously advancing its stated sustainability objectives. This direct equity participation provides a tangible hedge against future energy price volatility for the company's manufacturing footprint in India. Radiance MH Sunrise Eleven Private Limited, an Indian Special Purpose Vehicle and a subsidiary of Radiance Renewables, benefits from this USD 1.77 million capital injection, which helps de-risk the 16.6 MW solar project's revenue stream by securing a captive off-taker. For Privi Speciality Chemicals Limited, an India-based manufacturer of aroma and industrial chemicals, this deal directly supports its energy-intensive production processes. The transaction exemplifies an industrial player's direct investment into renewable generation assets to meet specific operational demands within the Indian market.