Poly Medicure Limited has entered into a joint venture agreement with AMPIN C&I Power Private Limited to establish a solar power project in Haryana, India. This initiative aims to supply power to Poly Medicure’s manufacturing facilities as a captive generating plant.
Key Details:
- Joint Venture Structure:
- Poly Medicure: 26% stake
- AMPIN C&I Power: 74% stake
- Purpose: To develop, construct, and maintain a solar power project, ensuring sustainable energy for the company’s operations.
- Execution: The capital infusion will occur in tranches as per mutually agreed terms between the partners.
- Management: The new company will be managed by a board of directors, with oversight in accordance with applicable laws and the joint venture agreement.
This move aligns with Poly Medicure’s commitment to sustainability and operational efficiency, leveraging renewable energy to power its facilities.
