Jindal Saw Limited has signed a share purchase agreement (SPA) to acquire a 31.20 per cent equity stake in ReNew Green MHH One Private Limited (RGMHH), which will result in RGMHH becoming an associate of the company.
The target company is focused on power generation from renewable sources and is yet to start its operations. The acquisition aims to procure electricity at a concessional rate and is expected to be completed by May 2025.