Kolkata-based, Shree Ganesh Jewellery House (SGJHL) has decided to exit from the solar power generation business on the back of objections from its Board. The company had entered the renewable energy business to diversify its portfolio and to leverage on tariff and tax incentives.
The company has forayed into solar power generation by acquiring 55% stake in two companies - Alex Astral Power and Alex Spectrum Radiation - owned by the Kolkata-based Sureka Group, at an estimated investment of nearly Rs 100 crore.
