Syngene International has agreed to buy a 26 per cent equity stake in Ampyr Renewable Energy Resources Eleven Private Limited (AREREPL), a special purpose vehicle (SPV) of Ampyr India Asset Holdings.
The estimated cost of the transaction is Rs 32 million. Through the acquisition, Syngene plans to generate and supply solar power. AREREPL was established in April 2021 as an SPV for the production of renewable power. The firm will develop a 50 MWac solar power plant in Koppal district of Karnataka.