Bharat Forge on Friday said it had made another investment of Rs 2.87 to use the remaining 8.20 megawatts (MW) solar energy from Avaada SataraMH Pvt Ltd (ASPL).
The company has agreed to use 40.70 MW of solar energy from the ASPL. As a neighbourhood of this, it’s previously invested about Rs 11.37 crore in ASPL to use 32.50 megawatts, Bharat Forge said during a BSE file.
“The company has now agreed to use the remaining 8.20 MW solar energy. Therefore, the company has made another investment of Rs 2,87,00,000 (28,70,000 shares of Rs 10 each) within the ASPL, “it said.
Following this investment, the company now holds 11% stakes in the ASPL.
Bharat Forge is present in the automotive, energy, oil and gas, and construction sectors.
Source:- Times of India