Lupin has signed Share Subscription & Shareholders agreement with Sunsure Solarpark Seventeen (Sunsure Solarpark) and Sunsure Energy (Sunsure) to make equity investment in Sunsure Solarpark. The objective of investment is to purchase renewable power through open access for the Company’s Tarapur manufacturing site. In addition to saving on power costs, the acquisition would enable the Company to fulfill its commitments on decarbonization.
Upto 42.61% of equity share capital of Sunsure Solarpark to be acquired at a total consideration not exceeding Rs 10.55 crore, to be completed in two tranches, in the capacity as a Captive User.
Lupin is an innovation led transnational pharmaceutical company producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.
