Lupin Limited has announced the successful acquisition of a 42.61% equity stake in Sunsure Solarpark Seventeen Private Limited, as part of its strategic investment in renewable energy initiatives. The transaction, valued at ₹10.55 crore, was completed in line with the company’s agreement with Sunsure Solarpark and Sunsure Energy Private Limited.
Key Details:
- Purpose of Investment:
- The acquisition enables Lupin to become a Captive User of Sunsure Solarpark’s renewable energy solutions, ensuring sustainable and cost-efficient energy usage.
- Transaction Details:
- The equity stake was acquired in two tranches, as per the Share Subscription & Shareholders Agreement signed earlier in September 2024.
- The total investment does not exceed ₹10.55 crore.
- Strategic Importance:
- This move aligns with Lupin’s broader environmental, social, and governance (ESG) goals, emphasizing sustainable energy adoption and reducing its carbon footprint.
The acquisition underscores Lupin’s commitment to integrating renewable energy into its operations and supporting India’s clean energy initiatives.
TOPICS:
Lupin