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Piramal Enterprises to invest Rs 900 crore in Subhash Chandra’s Essel Green Energy

30 Mar 2016 Evaluate

Piramal Enterprises in collaboration with Netherlands-based APG Asset Management is planning to invest Rs 900 crore ($132 million) in Subhash Chandra’s Essel Green Energy.

Essel Green Energy currently owns 160 MW of independent solar power projects in four States, of which 110 MW is operational and 50 MW is currently under execution. The company is planning to ramp up its solar power capacity to 1,000 MW in the next 2-3 years.

Piramal Enterprises is one of the leading players globally in CRAMS (custom research and manufacturing services) as well as in the critical care segment of inhalation and injectable anaesthetics. It also has a strong presence in the OTC segment in India.

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