26 Mar 2024 , 03:14 PM
The company stated that to qualify as a Captive User of the Power Producer under the provisions of the Electricity Act, 2003 read with the Electricity Rules, 2005, a minimum of 26% of the Power Producer's equity shares must be maintained, so this acquisition is in line with such regulations.
The company has paid cash consideration of Rs2.16 crore for this acquisition.
ABRELCEL was incorporated on March 10, 2022, as an SPV for the purpose of establishing captive power projects, i.e., electric power generation through wind and solar.
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