Hyderabad-based independent power producer, Suryachakra (Q, N,C,F)* Power Corporation announced that the company`s wholly owned subsidiary South Asian Agro Industries has entered into power purchase agreement (PPA) with Chhattisgarh State Power Distribution Company for the setting up of 5 MW solar thermal power project at Khajuri Village, Baloda Bazar Tah., Raipur District in the state of Chhattisgarh.

The company is a part of the Suryachakra group of companies, which focuses on the eco-friendly generation of power promoting the Green Power concept and has business interests in agro products including bio-diesel.

Shares of the company gained Rs 0.17, or 1.61%, to settle at Rs 10.73. The total volume of shares traded was 40,829.00 at the BSE (Wednesday).