BirlaNu has entered into Share Subscription and Shareholder Agreement (SSHA) with Fourth Partner Energy and FPEL HR5 Energy for acquisition of 26% stake in the share capital of FPEL HR5 Energy for putting of a solar power plant for company’s Faridabad and Jhajjar Units with capacity of 3.58 MW AC / 5.37MWp DC., under captive scheme.
The objective of acquisition is to meet the green energy needs, optimise energy cost and to comply with regulatory requirement for captive power consumption under electricity laws. The cost of acquisition is an equity investment of up to Rs. 2.02 crore, to be completed within six months.
BirlaNu, the flagship company of the multibillion-dollar CKA Birla Group, has been redefining building material solutions. With a commitment to sustainability, innovation and quality, we craft future-ready products that inspire and transform spaces.
