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Kovalam Investment to Invest in Solar Power Project under PM KUSUM ‘A’ Scheme
Team Finance Saathi
18/Dec/2024
What's covered under the Article:
- Kovalam Investment has approved investing in a Solar Power Project under the PM KUSUM ‘A’ Scheme.
- The investment aims to support solar power development in Madhya Pradesh.
- The project will proceed following regulatory approvals.
On December 18, 2024, Kovalam Investment and Trading Company Limited announced its decision to invest in a Solar Power Project under the PM KUSUM ‘A’ Scheme of Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL), a State Government undertaking. This initiative is part of the company's strategy to deploy its surplus funds in sustainable and energy-efficient projects, focusing on the renewable energy sector.
Key Details of the Investment:
- Project Name: Solar Power Project under the PM KUSUM ‘A’ Scheme.
- Purpose: The investment will be utilized for setting up a solar power project in Madhya Pradesh, aiming to support the state's clean energy goals.
- Regulatory Approvals: The project is subject to receiving the necessary governmental and regulatory approvals, which will be processed according to requirements.
The PM KUSUM ‘A’ Scheme is a government initiative designed to promote solar energy by incentivizing investments in solar power generation across India. Under this scheme, private and public companies are encouraged to set up solar plants, contributing to India’s overall sustainability targets and renewable energy production.
Kovalam Investment’s move to participate in the PM KUSUM scheme reflects its commitment to green energy investments, aligning with global trends toward sustainability and environmentally responsible investments.
Corporate Profile
Kovalam Investment and Trading Company Limited operates with a vision to strategically invest in diverse projects that foster economic growth and sustainable development. The company focuses on investing in sectors like renewable energy, infrastructure, and green technologies, while continuously contributing to India's energy transition.
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