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Bharti Airtel to acquire stake in Avaada MHBuldhana
November 23, 2020
Bharti Airtel on Friday stated it will buy a 5.2 % stake in solar power organization Avaada MHBuldhana for Rs 4.55 crore in an all-coins deal.
Avaada MHBuldhana Private Limited is a newly-shaped agency and growing a captive producing solar energy plant in Maharashtra which turns into operational via March 2021. It is a subsidiary of Avaada Energy Private Limited (AEPL).
AEPL has advanced a portfolio of over 1 gigawatt solar and wind tasks across the country and the first unbiased energy producer to move 1 GW hooked up potential milestone in India, according to a regulatory submitting with the aid of Bharti Airtel.
“The company has entered into a settlement on November 19 for acquisition of equity stocks in Avaada MHBuldhana Private Limited a unique cause vehicle formed for the cause of proudly owning and working the captive power plant, in terms of the regulatory requirement for captive power consumption below energy laws,” it brought.
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