TGV SRAAC to set up additional 40 MW solar power plant at Rs 120 crore
The upcoming 40 MW solar plant is expected to be installed near TGV SRAAC's factory or at an alternate suitable location. This expansion aligns with the company's continued focus on sustainable energy and reducing its carbon footprint through clean power generation.
Advertisement
In the exchagne filings the copmany shared, 'We bring to your kind notice that the Board has given approval by way of Circular Resolution on 12.07 .2025 to the Company for setting up of further 40 MW Solar Power plant near to our Factory/elsewhere at a total approximate cost of Rs.120 Cr funded through internal accruals / Bank finance.'
This latest move comes in addition to the company's earlier board approval for a 60 MW solar project—of which 37.90 MW has already been completed and is generating power, while the remaining 22.10 MW is under progress and advancing as planned.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
21 hours ago
- Business Upturn
TGV SRAAC to set up additional 40 MW solar power plant at Rs 120 crore
TGV SRAAC has announced that its Board of Directors has approved the setting up of a new 40 MW solar power plant at an estimated cost of ₹120 crore. The decision was passed via circular resolution on July 12, 2025. The project will be funded through internal accruals and/or bank finance. The upcoming 40 MW solar plant is expected to be installed near TGV SRAAC's factory or at an alternate suitable location. This expansion aligns with the company's continued focus on sustainable energy and reducing its carbon footprint through clean power generation. Advertisement In the exchagne filings the copmany shared, 'We bring to your kind notice that the Board has given approval by way of Circular Resolution on 12.07 .2025 to the Company for setting up of further 40 MW Solar Power plant near to our Factory/elsewhere at a total approximate cost of Rs.120 Cr funded through internal accruals / Bank finance.' This latest move comes in addition to the company's earlier board approval for a 60 MW solar project—of which 37.90 MW has already been completed and is generating power, while the remaining 22.10 MW is under progress and advancing as planned.
Business Upturn
21 hours ago
- Business Upturn
Amber Enterprises board approves enabling resolution to raise up to Rs 2,500 crore
Amber Enterprises India Ltd has announced that its Board of Directors, at a meeting held on July 12, 2025, has approved an enabling resolution to raise funds of up to ₹2,500 crore. The proposed fundraising will be through the issuance of permissible securities and is subject to necessary regulatory approvals and shareholder consent. This move was disclosed in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows the company's earlier intimation dated July 9. The company noted that further details regarding the type and mode of securities will be shared in compliance with SEBI's November 2024 circular, once finalized. Additionally, the Board approved the Notice of the 35th Annual General Meeting (AGM), which is scheduled to be held on Monday, August 11, 2025, at 3:00 PM IST. The AGM notice and the Annual Report for FY 2024-25 will be shared with the stock exchanges in due course. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
a day ago
- Yahoo
Tesla's rule-breaking board expressing ‘almost a contempt for lawful and accepted procedure', says governance expert
Under pressure from a group of shareholders, Tesla's board of directors said it will convene the annual general meeting on Nov. 6, nearly four months later than required under Texas state laws. The company had warned at the end of April it would fail to meet the usual deadline, but did not cite a reason for the delay. Charles Elson, founding director of the Weinberg Center for Corporate Governance, says this attitude represents a lack of accountability toward shareholders. An admission by Tesla's directors that investors will be forced to wait until November before voting on key issues has come under sharp criticism fire from a leading U.S. expert on corporate governance. This week, the company finally lifted the secret surrounding the date of its much-delayed annual shareholder meeting. According to state laws in Texas, Tesla was obligated to hold the meeting by July 13—one year and one month after its previous meeting. 'They can't even have an annual meeting annually? That's ridiculous—it's almost expressing a contempt for lawful and accepted procedure.' Charles Elson told Fortune. 'Shareholder voting is a core principle in our system of capital formation, and if you abrogate that, then you punch a hole in the system itself.' Elson serves as a subcommittee chair on the American Bar Association's Business Law Section and is the founding director of the Weinberg Center for Corporate Governance at the University of Delaware. In 2024, he resigned from a consulting role with the law firm Holland & Knight—which counted Tesla as a client—after a nearly 30-year relationship in order to avoid interest conflicts when filing a legal opinion on the issue of CEO Elon Musk's pay package, dubbed 'the largest in human history.' The announcement of the Nov. 6 annual general meeting came just hours after a group of institutional investors representing $1.5 trillion in assets under management expressed their 'deep concern' over the delay and called on the board to 'immediately' disclose the date. 'Tesla's ongoing silence on the AGM is cause for concern,' they wrote to Tesla's directors in an open letter published Wednesday. The company had first admitted at the end of April that it had failed to file its definitive proxy statement within the normal time frame, citing no reason. Elson said there were only very few legally defensible justifications for pushing back an annual meeting, such as the lack of audited financial statements. Delaying its meeting in order to hold a vote over a new pay package for Musk or a potential investment in his latest startup xAI—the two most commonly cited theories in the Tesla community—did not meet that threshold in his view. 'The law has to be equally and neutrally applied. There aren't special exceptions for special people,' Elson said, referring to Musk. Tesla did not respond to a request from Fortune for comment. Unless shareholders mount a legal challenge to the later date, however, there are no repercussions for the company. Nevertheless, Elson fears this attitude waters down the spirit of capitalism. If a company's owners don't feel like they have a say, it lessens the likelihood of investing in equities. 'It's the one time of the year where every shareholder has the chance to voice their concerns to management in an open forum. It's a natural part of the corporate calendar that ensures accountability—you can't deny shareholders their fundamental suffrage right,' he said. If more companies follow Tesla's example, disenfranchised investors could increasingly seek the contractual protection of a debt-based financing system. This constrains economic growth, however, since it diminishes the appetite for risk that distinguishes the United States from a sluggish Europe. Elson argued that a recent proposal by Wedbush analyst Dan Ives to erect a special board oversight committee tasked with exercising influence over the CEO showed just how toothless the current slate of directors led by chair Robyn Denholm really is. 'Shut up,' Musk responded to Ives, immediately shooting down the proposal. 'I don't think this board is capable of acting outside of Musk's interests. So the question then is what exactly does it do?' Elson asked. 'Why are these individuals being paid hundreds of millions of dollars?' This story was originally featured on Sign in to access your portfolio
