Joint Venture7 Sept 2026, 11:11 pm
Solarworld Energy Solutions forms JV for 2.4 GW solar PV cell facility
AI Summary
Solarworld Energy Solutions Ltd announced the formation of a joint venture with Rays Green Energy Manufacturing Private Limited and Rays Power Infra Limited. The company will invest in and hold 50% of Rays Green, which will establish a 2.4 GW solar photovoltaic cell manufacturing facility in Madhya Pradesh. This involves a variation in the utilization of fresh issue proceeds, shifting from investment in a subsidiary for a 1.2 GW facility to this new joint venture. The board meeting also approved the notice for the 13th Annual General Meeting and closed the trading window for designated persons.
Key Highlights
- Forms joint venture for a 2.4 GW solar PV cell manufacturing facility.
- Will hold 50% equity in the joint venture entity, Rays Green.
- Variation approved in utilization of fresh issue proceeds.
- Trading window closed for designated persons due to proposed changes.
- 13th Annual General Meeting notice approved.
Price Impact
More from SOLARWORLD