Bharat Forge to acquire 26Percentage stake in Avaada MHVidarbha

16 Feb 2022 , 01:34 AM

Bharat Forge has entered into a power purchase agreement and shareholders agreement dated 09 February 2022 with Avaada MHVidarbha AMHVPL to purchase solar power on a Single Captive User basis thereby agreeing to acquire 26Percentage equity stake for approximately Rs 113750000 in AMHVPL The investment is being made in compliance with the provisions of Electricity Act 2003 and rules made thereunder for supply of solar power of capacity upto 3250 MW DC equivalent to 250 MW AC per annum