12-Jun-2026 19:06:12
BIOCON : INVESTS IN SOLAR POWER SPV FOR GREEN ENERGY 🌞⚡
• 🌱 Acquired equity stake in Ampin C&I Power Twelve Pvt Ltd (AMPIN), a special purpose vehicle for solar power generation • 💰 Invested ₹5.48 Cr through subscription to 54.76 lakh equity shares • 📊 Will hold 37.77% stake in AMPIN on an undiluted basis • ☀️ AMPIN is setting up a 27.12 MW (DC) solar power plant in Karnataka • ♻️ Investment aligns with Biocon's renewable energy and decarbonization goals • 🔋 Intended to support procurement of green energy while reducing energy costs and carbon footprint • 🏭 Transaction structured under power purchase and shareholders' agreements to maintain captive status under electricity regulations 🟢 Impact: Positive (Supports ESG objectives, secures renewable power supply, lowers long-term energy costs and strengthens sustainability initiatives.)
ADANI GREEN ENERGY LTD