Maharashtra-based building material manufacturer, Everest Industries, will procure 3 MW of solar power from Enerparc Solar Power 10’s 15 MW solar project for its Podanur plant in Coimbatore, Tamil Nadu, in group captive mode.

Enerparc Solar Power 10 is a special purpose vehicle (SPV) of Enerparc Energy.

The project will help the company increase its renewable energy utilization in Tamil Nadu.

Everest has invested ₹10.65 million (~$121,607) to acquire 1.06 million shares at a face value of ₹10 (~$0.114)/share for an equity stake of 5.31% .

The stake acquisition is expected to be completed by November 30, 2025.

Everest has a paid-up capital of ₹363.7 million (~$4.15 million).

The company provides solutions for roofing, walls, and ceilings.

According to Everest’s annual reports from the financial year 2024, it has installed more than 2,800 kW of solar modules across its facilities. It has also set up rooftop solar projects to meet the power requirements of each facility.

In the same year, Everest commissioned a 700 kW solar project at Narmada works, Gujarat, which met nearly 42% of the plant’s total requirement. It also set up a 1,100 kW captive solar project in Lakmapur, Karnataka, in captive mode, which met 11% of the plant’s requirement.

Everest also set up a 500 kW solar project at its Somnathpur works in Odisha, in March 2024.

In May, Everest Industries announced that it would procure 5.5 MW of solar power from a group captive project of Amplus Energy Solution’s (now Gentari) SPV, Amplus Ampere. Everest would invest ₹17.6 million (~$205,494) for 1.76 million, or 3.12% equity shares, at a face value of ₹10 (~$0.12) per share in Amplus Ampere. The total capacity of Amplus Ampere’s project is 54.94 MW. The acquisition would be completed by September 30, 2025.