GRP Ltd Signs PPA with BECIS Solar 5; Acquires 26.43% Stake in Captive Solar SPV

GRP Ltd has executed a Power Purchase Agreement (PPA) with BECIS Solar 5 Private Limited, marking a key step in its plan to procure captive solar power for its operations. The agreement follows GRP’s earlier disclosure dated November 13, 2025, regarding its intention to invest in a solar power project through a Special Purpose Vehicle (SPV).

Under the newly signed PPA, BECIS Solar 5 will act as the captive power generator, supplying solar energy to GRP Ltd as the captive user. In addition to the PPA, GRP has also finalized a Share Subscription and Shareholders’ Agreement with BECIS Solar 5 Pvt. Ltd. and its promoter, BE-Onsite Solar Energy Private Limited.

Through this agreement, GRP will subscribe to 26.43% of the equity share capital of BECIS Solar 5, securing its captive status under applicable regulations.