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Reliance Industries acquires 100% stake in MSKVY Nineteenth Solar SPV, MSKVY Twenty-second Solar SPV

25 Apr 2024 Evaluate

Reliance Industries has acquired 100% equity stake of MSKVY Nineteenth Solar SPV (SPV1) and MSKVY Twenty-second Solar SPV (SPV2) from MSEB Solar Agro Power, for an aggregate consideration of Rs 1 crore.

The said investments will enable the Company to develop solar plants across various sites in Maharashtra. SPV1 and SPV2 were incorporated in India on October 16, 2023 and March 18, 2024, respectively, with an objective of setting up solar projects and are yet to commence commercial operations. The investments do not fall within related party transactions and none of the Company’s promoter / promoter group / group companies have any interest in the above entities.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Peers
Company Name CMP
Reliance Industries 1166.00
Indian Oil Corpn. 132.00
Bharat PetroleumCorp 301.00
HPCL 346.00
MRPL 164.70
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