Drug major Cipla on Friday said it has signed a pact to acquire 32.49 per cent stake in AMP Energy Green Eleven to set up a captive solar power project in Maharashtra.<\/p>\n
The company has entered into a shareholder’s agreement along with the power purchase agreement to acquire up to 32.49 per cent stake on a fully diluted basis in AMP Energy Green Eleven, the Mumbai-based company said in a regulatory filing.<\/p>\n
The acquisition is in line with the commitment to enhance the share of renewable power sources in its operation and to comply with regulatory requirements for being a captive user under Indian electricity laws, it added.<\/p>\n
AMP Energy Green Eleven was incorporated on November 21, 2020, and is engaged in the business of generating and supplying electrical power generated using solar energy.<\/p>\n
In a separate filing, Cipla said its Global Chief Financial Officer Kedar Upadhye has resigned from the company.<\/p>\n
Upadhye will serve his full notice period of three months upto close of business hours of May 3, 2022, it added.<\/p>\n
The company’s board will announce his successor in due course, the drug firm said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Drug major Cipla on Friday said it has signed a pact to acquire 32.49 per cent stake in AMP Energy Green Eleven to set up a captive solar power project in Maharashtra. The company has entered into a shareholder’s agreement along with the power purchase agreement to acquire up to 32.49 per cent stake on a fully diluted basis in AMP Energy Green Eleven, the Mumbai-based company said in a regulatory filing. The acquisition is in line with the commitment to enhance the share of renewable power sources in its operation and to comply with regulatory requirements for being a […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-466553","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/466553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=466553"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/466553\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=466553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=466553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=466553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}