Concord Biotech has entered into an agreement to acquire 27.38% stake in M/s FSGE Renewable Power (FSGE) for a consideration of Rs 6.3 crore. The investment is for installation of Wind Solar Hybrid Power Project having a Wind Capacity of around 6.3 MW AC & Solar Capacity of around 6.3 MWp DC in Gujarat for Limbasi Facility of the company. The investment aligns with the company’s commitment to sustainability and its focused efforts to address environmental challenges. FSGE is a Special Purpose Vehicle incorporated for the purpose of developing a captive power generation facility for the company and it has not commenced its operations.
By transitioning to renewable energy sources, the company will reduce its carbon footprint, contributing to global efforts to combat climate change. Additionally, renewable energy offers long-term financial benefits, including reduction in energy costs. This strategic investment reinforces the company’s commitment to environmental responsibility and supporting sustainable growth while enhancing operational efficiency.
Concord Biotech is an India-based biopharma company and one of the leading global developers and manufacturers of select fermentation-based APIs across Immunosuppressants and oncology.
| Company Name | CMP |
|---|---|
| Sun Pharma. Inds. | 1904.65 |
| Dr. Reddys Labs. | 1374.55 |
| Cipla | 1458.45 |
| Zydus Lifesciences | 1141.00 |
| Lupin | 2476.10 |
| View more.. | |
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