Suzlon Energy acquires five solar energy companies for undisclosed amount
The companies have been acquired to help Suzlon Energy implement various renewable energy projects in the country.
Suzlon Energy has acquired five small solar companies for an undisclosed sum to implement various renewable energy projects across the country.
"The company has acquired Gale Solarfarms,Tornado Solarfarms, Abha Solarfarms, Aalok Solarfarms and Shreyas Solarfarms to implement various renewable energy projects across the country, including the recently won solar projects in Maharashtra of 70 MW," Suzlon said in a BSE filing on Tuesday.
These companies, which have been acquired at face value, do not have any operations or assets currently and have been acquired primarily to be used as SPVs for the proposed solar project, the wind energy solutions provider added.
The shares of the company were trading 4.80% up at Rs 15.28 apiece on BSE on Monday. Markets are shut on Tuesday due to Mahavir Jayanti.