Force Motors has received approval to acquire 12.21% shares of TP Surya, a wholly owned subsidiary of Tata Power Renewable Energy, in respect of procurement of Solar Power from a specific Solar Plant, to be established by TP Surya in Maharashtra under Open Access Mode subject to closing adjustments. Through this acquisition, the company is tying up with Tata Power Renewable Energy as per the Maharashtra Group Captive arrangement for Green Energy under Open Access. The acquisition is expected to be completed before March 31, 2024 subject to completion of closing conditions. The Board of Directors of the company at its meeting held on December 12, 2023, has inter alia considered/ approved the same.
Force Motors is a Pune-based commercial vehicle maker. It is a fully vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.
