Bharat Forge has decided to make an additional investment of Rs 2.87 crore to use the remaining 8.20 megawatts (MW) solar power from Avaada SataraMH Pvt Ltd (ASPL).
The company has agreed to use a total of 40.70 MW solar power from ASPL. As part of this, it earlier invested about Rs 11.37 crore in ASPL to use 32.50 megawatts, Bharat Forge said in a BSE filing.
‘The company has now agreed to use the remaining 8.20 MW solar power. Accordingly, the company has made further equity investment of Rs 2,87,00,000 (28,70,000 equity shares of Rs 10 each) in ASPL,’ it said.
After this investment, the company now holds 11 per cent stake in ASPL.
Bharat Forge has presence in automotive, power, oil and gas, and construction sectors.
This is a Syndicate News Feed; edited by Clean-Future Team