Business Update27 Dec 2023, 03:48 pm
Hindalco Industries Limited Acquires 26% Stake in Ayana Renewable Power Four Private Limited
AI Summary
Hindalco Industries Limited has informed about the acquisition of 26% stake in Ayana Renewable Power Four Private Limited (ARPFPL) through a share swap. The company has signed agreements wherein ARPFPL has novated the previous Shareholder's Agreement & Power Purchase Agreement to Hindalco. The acquisition is aimed at developing and operating captive power generation plant to supply 100 MW round-the-clock renewable energy to the company's Smelter located in Odisha.,
Key Highlights
- Hindalco Industries Limited has acquired 26% stake in Ayana Renewable Power Four Private Limited (ARPFPL)
- The acquisition is aimed at developing and operating captive power generation plant to supply 100 MW round-the-clock renewable energy to the company's Smelter located in Odisha.
- The company has signed agreements wherein ARPFPL has novated the previous Shareholder's Agreement & Power Purchase Agreement to Hindalco.