AMPSolar Sells 26% Stake To Orient Cement For Rs.4 Cr.

In Clean News, News, Renewable Energy
AmpSolar

Orient Cement has On Thursday entered into Share Purchase, Subscription and Shareholder’s Agreement with AMPSolar Technology Private Limited and AMPSolar Systems Private Limited for acquisition of 26% stake in the share capital of AMPSolar Systems Private Limited for putting up the solar power plant with capacity of 13.5 MW, under Captive Scheme.

AMPSolar
The name of the target entity is AMPSolar Systems Private Limited (AMP), which was incorporated on May 17, 2020 in India. AMP is formed for the purpose of setting up a solar power project in Maharashtra, in terms of the regulatory requirement for captive power consumption under electricity laws.
orient cement

AMP Energy is engaged in the business of developing, owning and operating renewable energy infrastructure for supplying electrical power generated using solar energy and other sources of renewable energy to commercial, industrial and utility customers.

The acquisition is to meet the green energy needs and optimize energy cost and to comply with regulatory requirement for captive power consumption under electricity laws.

The cost of acquisition is Rupees 4.05 crore approximately.

This is a Syndicate News Feed; edited by Clean-Future Team

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