Summary：Kriti Industries Celebrates Power Generation Approval at Historic EGM **Introduction** Kriti Indus

Kriti Industries Celebrates Power Generation Approval at Historic EGM

**Introduction**
Kriti Industries announced on Monday that its shareholders have granted unanimous approval for a new power‑generation project during an extraordinary general meeting (EGM) held at the company’s Mumbai headquarters. The resolution, passed with a 98% affirmative vote, clears the final regulatory hurdle for the firm to construct a 150‑megawatt (MW) combined‑cycle gas turbine (CCGT) plant on the outskirts of Pune. Industry analysts view the decision as a watershed moment that could reshape Kriti’s revenue profile and strengthen its position in India’s evolving energy landscape.

**Key Developments**
The EGM agenda featured three pivotal items: endorsement of the project’s detailed project report (DPR), allocation of ₹2,350 crore in capital expenditure, and adoption of a revised environmental‑impact mitigation plan. Management highlighted that the plant will employ advanced heat‑recovery steam generators (HRSG) and low‑NOx burners, aiming for a thermal efficiency exceeding 58%. Financing will be sourced through a mix of internal accruals, green bonds, and a syndicated loan facility led by State Bank of India. The timeline targets commercial operation by Q4 2026, with phased commissioning beginning in mid‑2025.

**Industry Analysis**
India’s power sector is undergoing a transition from coal‑centric baseload to cleaner, flexible generation to support the nation’s 500 GW renewable target by 2030. Gas‑based CCGT units are increasingly valued for their ability to ramp quickly, complementing intermittent solar and wind outputs. Kriti’s move aligns with the Ministry of Power’s recent policy push for “gas‑as‑a‑bridge” fuel, which offers lower carbon emissions than coal while providing grid stability. Analysts note that the project’s location near existing gas pipeline infrastructure reduces logistics costs, potentially delivering a levelized cost of electricity (LCOE) competitive with new solar‑plus‑storage systems. However, risks remain tied to domestic gas pricing volatility and the long‑term commitment to natural gas amid global decarbonization pressures.

**Future Outlook**
Should the plant meet its performance benchmarks, Kriti Industries expects to add roughly ₹1,200 crore to annual EBITDA by FY 2028, diversifying its earnings beyond its traditional manufacturing