SPR Auto Technologies has entered into a Share Subscription Agreement (SSA) and Shareholders' Agreement (SHA) with Sunsure Solarpark Forty and Sunsure Energy for an aggregate investment of up to ₹6 crore. According to reports from Business Standard, the investment will be made through subscription to equity shares representing approximately 23.21% of the paid-up equity share capital of Sunsure Solarpark, on a fully diluted basis, along with other captive shareholders if any. The target entity, a wholly owned subsidiary of Sunsure Energy Private Limited, has not yet commenced commercial operations, as reported by Shriram Pistons & Rings Ltd.
The investment is specifically designed for a group captive solar power project, in accordance with the Electricity Act, 2003. As reported by Business Standard, this partnership aligns with SPR Auto Technologies' strategic focus on renewable energy integration for its manufacturing operations. The project will serve as a captive solar power facility for the company's operations, with the move aiming to meet the company's green energy needs, optimize energy costs and comply with captive power regulations, strengthening its sustainability profile without involving any related-party transaction.
Simultaneously with the investment agreement, SPR Auto Technologies has entered into a Power Purchase Agreement dated August 25, 2026 with Sunsure Solarpark for procurement of solar power from the project. According to Business Standard, this agreement ensures the company will receive solar power from the captive facility for its manufacturing facility at Pathredi, Rajasthan. The power purchase arrangement provides SPR Auto with a dedicated renewable energy source for its operations in the state, supporting the company's focus on enhancing manufacturing efficiency and sustainability across its production facilities.
By aligning its production footprint with renewable energy procurement, SPR Auto Technologies seeks to reduce energy costs, improve sustainability metrics and comply with evolving electricity regulations. As reported by Shriram Pistons & Rings Ltd., this strategy positions the company to lock in renewable power from an early-stage solar venture, as Sunsure Solarpark has yet to commence commercial operations. The move underscores the company's shift toward cleaner energy sourcing and may improve resilience against future power price volatility while supporting regulatory compliance and environmental objectives, supporting its broader positioning as a modern automotive supplier integrating efficiency and environmental considerations into core operations.
