Aurobindo Pharma to acquire 26 percent stake in solar energy company
Telangana: Aurobindo Pharma has announced that the Company will be investing Rs.10.40 crores to acquire 26 percent equity and other securities of Swarnaaskshu Solar Power Private Limited, a company under incorporation.
The Board of Directors of Aurobindo has approved to enter into a power purchase agreement with Swarnaaskshu Solar Power Private Limited for purchase of solar power under the captive power policy of the Government of Telangana.
Swarnaaskshu is under incorporation by the relatives of K. Nithyananda Reddy, promoter and Vice Chairman & Managing Director of the Company.
Swarnaaskshu will be setting up of a Solar powerplant with the capacity of 30MW AC (40MW DC) in the state of Telangana.
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Aurobindo Pharma Limited is an integrated global pharmaceutical company headquartered in Hyderabad, India. The Company develops, manufactures, and commercializes a wide range of generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients globally in over 150 countries.
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