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Bharti Airtel to acquire 5.2% stake in Avaada MHBuldhana for Rs 4.55 cr

Avaada MHBuldhana Private Limited is a newly-formed company and developing a captive generating solar power plant in Maharashtra which will become operational by March 2021

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Bharti Airtel | Merger and Acquisition | Avaada

Press Trust of India  |  New Delhi 

bharti airtel

on Friday said it will acquire 5.2 per cent stake in solar power company MHBuldhana for Rs 4.55 crore in an all-cash deal.

MHBuldhana Private Limited is a newly-formed company and developing a captive generating solar power plant in Maharashtra which will become operational by March 2021.

It is a subsidiary of Energy Private Limited (AEPL).

AEPL has developed a portfolio of over 1 gigawatt solar and wind projects across the country and the first independent power producer to cross 1 GW installed capacity milestone in India, according to a regulatory filing by

"The company has entered into an agreement on November 19 for acquisition of equity shares in Avaada MHBuldhana Private Limited a special purpose vehicle formed for the purpose of owning and operating the captive power plant, in terms of the regulatory requirement for captive power consumption under electricity laws," it added.

The transaction is expected to close by March 31, 2021.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, November 20 2020. 23:27 IST
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