Joint Venture25 Jul 2025, 05:32 pm
Advanced Enzyme's Subsidiary, JC Biotech, to Collaborate with Raywatt Solar Power Systems for Group Captive Solar Power Project
AI Summary
The Board of Directors of JC Biotech Private Limited, a 95.72% subsidiary of Advanced Enzyme Technologies Ltd, has approved a collaboration with Raywatt Solar Power Systems Private Limited. The collaboration is for a group captive solar power project to meet the power requirements of JC Biotech's plant in Andhra Pradesh through a sustainable source. The subsidiary will invest in 26% equity shares of a Special Purpose Vehicle (SPV) incorporated in India, which will be set up for the generation of solar power.
Key Highlights
- Advanced Enzyme's subsidiary, JC Biotech, to collaborate with Raywatt Solar Power Systems for a group captive solar power project.
- The project is aimed at meeting the power requirements of JC Biotech's plant in Andhra Pradesh through a sustainable source.
- JC Biotech will invest in 26% equity shares of a Special Purpose Vehicle (SPV) incorporated in India.
- The SPV will be set up for the generation of solar power.
- The collaboration is expected to be completed by March 31, 2026.