Latest News | Indus Towers to Acquire 26 Pc Stake in JSW Green Energy Eight for Rs 38 Crore
Get latest articles and stories on Latest News at LatestLY. Telecom infrastructure company Indus Towers on Friday said it will acquire a 26 per cent stake in JSW Green Energy Eight for Rs 38.03 crore to procure renewable energy from a solar PV plant.
New Delhi, Dec 13 (PTI) Telecom infrastructure company Indus Towers on Friday said it will acquire a 26 per cent stake in JSW Green Energy Eight for Rs 38.03 crore to procure renewable energy from a solar PV plant.
Indus Towers will receive 130 MW of renewable energy from a solar photovoltaic (PV) power plant, according to a regulatory filing.
"...the Company, on December 12, 2024, has entered into a Power Purchase Agreement with JSW Green Energy Eight Limited, a special purpose vehicle (SPV), for the procurement of renewable energy from Solar PV plant, under Captive mode.
"In connection with this, the Company will also enter into an agreement for a proposed investment of approximately Rs 38.03 crore, through the subscription to equity shares of the SPV..." it said.
JSW Green Energy Eight was incorporated in October 2024 to build, develop, own, generate, supply, accumulate, transmit, distribute, store, purchase, and sell electrical power or any other energy by using conventional and/or non-conventional methods.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)