Alicon Castalloy has entered into an agreement with Radiance MH Sunrise Eight and Radiance Renewables for subscribing 10.40% of the equity capital of Radiance MH Sunrise Eight.
The company has also entered into power purchase agreement with the Radiance MH Sunrise Eight for purchase of solar power on captive consumption at the Company’s Shikrapur Plant in Pune. The objective of acquisition is to meet the green energy needs and optimize energy cost and to comply with regulatory requirement for captive power consumption under electricity laws.
Alicon Castalloy is a leading manufacturer of aluminium alloy gravity and low pressure die castings for major automotive manufacturers in India and exports to USA and Europe.
