Bharti Airtel to acquire 5.2% stake in Avaada MHBuldhana for Rs 4.55 crore – Times of India

NEW DELHI: Bharti Airtel on Friday said it will acquire 5.2 per cent stake in solar power company Avaada MHBuldhana for Rs 4.55 crore in an all-cash deal.
Avaada MHBuldhana Private Limited is a newly-formed company and developing a captive generating solar power plant in Maharashtra which will become operational by March 2021.
It is a subsidiary of Avaada Energy Private Limited (AEPL).
AEPL has developed a portfolio of over 1 gigawatt solar and wind projects across the country and the first independent power producer to cross 1 GW installed capacity milestone in India, according to a regulatory filing by Bharti Airtel.
“The company has entered into an agreement on November 19 for acquisition of equity shares in Avaada MHBuldhana Private Limited a special purpose vehicle formed for the purpose of owning and operating the captive power plant, in terms of the regulatory requirement for captive power consumption under electricity laws,” it added.
The transaction is expected to close by March 31, 2021.

Speak Your Mind

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get in Touch

350FansLike
100FollowersFollow
281FollowersFollow
150FollowersFollow

Recommend for You

Oh hi there 👋
It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

We don’t spam! Read our privacy policy for more info.

You might also like

SP urges SC to separate its interests from Tata...

NEW DELHI: After partnering with the Tata Group for the last 55 years, the...

Why Raising Money From Family Offices Might Not Always...

Often it seems like there are endless investment routes...

Council Post: ‘FACES’ Of Integrity: How To Live Your...

Clare Moore is the Head of Franchising at Tide Cleaners. ...

Chipotle will link executive compensation to environmental and diversity...

Brian Niccol, CEO of Chipotle Mexican GrillAdam Jeffery | CNBCChipotle Mexican Grill said Thursday...