Bharti Airtel has entered into an agreement on March 19 for acquisition of 17,43,560 shares (representing 7.48% of paid-up equity) in Sandhya Hydro Power Project Balargha Private Ltd, a special purpose vehicle (SPV).
Sandhya Hydro Power Project owns and operates a small hydro project of 9 MW (plus 10% continuous overload) in Kullu district, Himachal Pradesh and is a subsidiary of Continuum Energy Pte Ltd, Singapore. Bharti Airtel said the acquisition of 7.48% stake at Rs. 1,74,35,600 is expected to be completed by April 30, 2021.
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