SunEdison Infrastructure to acquire Megamic Electronics, Enrecover Energy Recovery Solutions

06 Jul 2019

SunEdison Infrastructure has received approval for acquisition of Megamic Electronics and Enrecover Energy Recovery Solutions. This acquisition will help the company in delivering high performance solar assets to the customers with improved customer service and visibility. The Board of Directors of the Company at its meeting held on July 05, 2019 has approved the same.

Cost of acquisition is around Rs 1.12 crore for 51% stake in Enrecover Energy Recovery Solutions. Cost of acquisition is around Rs 1 crore and 0.3% equity shares of the company in exchange of 51% stake in Megamic Electronics.

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