Chemplast Sanmar Acquires Stake in Yesaryes Energy for Solar Power
1 report, 1 independent
Updated Sat 00:00
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What happened
Chemplast Sanmar Limited announced it is acquiring a 27% equity stake in Yesaryes Energy Private Limited to source green solar energy for its operations. The acquisition involves a Power Purchase Agreement and a Share Purchase Agreement, with Chemplast Sanmar Limited paying a total cash consideration of ₹45 Lakhs for the stake. Yesaryes Energy Private Limited operates a 37.5 MW solar energy power plant in Tamil Nadu.
From equitybulls.com
Why it matters
The investment allows Chemplast Sanmar Limited to secure a dedicated source of green solar power for its business. This strategic move is aimed at cost optimization and integrating renewable energy into its operational supply chain.
From equitybulls.com