Grasim Industries Limited has acquired equity stakes in two special purpose vehicles (SPVs), AMPIN Energy C&I Three Private Limited and AMPIN Energy C&I One Private Limited to develop solar power facilities at its plants in Chamarajanagar, Karnataka, and Cheyyar, Tamil Nadu.
Grasim Industries will hold a 26 per cent stake in each SPV, investing up to Rs 12 million for Chamarajanagar plant and Rs 12.6 million for Cheyyar plant. The SPVs is for development of captive solar power generation facility having a capacity of 3 MWp (DC) each at Chamrajanagar and Cheyyar plant of the company.