Indoco Remedies has entered into Share Purchase and Shareholder’s agreement along with the Power Purchase agreement (collectively referred to as agreements) to acquire up to 26% stake in Kanakal Wind Energy, for setting up Solar Power Plant at Akkalkot, Solapur District, Maharashtra. The purpose of entering into the agreements is to establish the Solar Power Plant at Akkalkot, Solapur District in the state of Maharashtra wherein the power generated will be supplied exclusively to Indoco Remedies under the Captive Rules. The Plant will be established and operated by Kanakal Wind Energy. Post-acquisition Kanakal Wind Energy will be associate of Indoco Remedies.
Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.
