Cipla to acquire 32.49 per cent stake in AMP Energy Green Eleven 

Drug major Cipla has entered into a shareholder’s agreement along with the power purchase agreementto acquire 32.49 per cent stake on a fully diluted basis in AMP Energy Green Eleven to set up a captive solar power project in Maharashtra.

The acquisition is in line with Cipla’s commitment to enhance the share of renewable energy (RE) sources in its operation and to comply with regulatory requirements for being a captive user under Indian electricity laws. AMP Energy Green Eleven is engaged in generating and supplying solar power.

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