The proposed investment by the Company is in compliance with the provisions of Electricity Rules, 2005 in terms of which the Company, as a captive user, is required to own 26% proportionate ownership in one unit of MEL of 600 MW capacity, with RIL being the captive user of 500 MW generation capacity.The Company and MEL have entered into a 20 year long term power purchase agreement for this purpose.
MEL, a company engaged in generation and supply of power, was incorporated on 19 October 2005. The turnover of MEL, as per its audited standalone financial statement, for financial years 2022-23, 2021-22 and 2020-21 was Rs. 2,730.68 crore, Rs.1,393.59 croreand Rs. 692.03 crore, respectively.
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