AIA Engineering to acquire 26% stake in Torrent Urja 16
AIA Engineering as executed Share Subscription and Shareholders' Agreement with Torrent Power (Sponsor) and Torrent Urja 16 (TUPL) to acquire / subscribe total 3,29,99,970 equity shares of Rs 10 of TUPL for setting up a captive hybrid (solar & wind) power project in Gujarat.
The company has also signed and executed Power Transfer Agreement (PTA) with Torrent Urja 16 for supplying contracted hybrid (solar & wind) energy to the company as a captive user.
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