Tech Mahindra to shop for stake in Huoban Energy

Tech Mahindra to shop for stake in Huoban Energy

by admin- Thursday, June 9th, 2022 04:05:35 PM

Tech Mahindra has acquired a 26% stake in Huoban Energy 6 Private Ltd, a lately integrated renewable electricity firm.

Tech Mahindra said it will pay a complete sum of Rs. 1.60 crore for the acquisition in an all-coins deal, adding that the transaction is expected to be finished inside 90 days.

The acquisition has been made under the “group captive” programme, in order to permit Tech Mahindra to eat the renewable power in order to be generated by Huoban Energy.

Captive or organization captive projects are tasks set up by means of a developer with a minimum equity contribution of 26% from fascinated purchasers, consisting of Tech Mahindra in this situation, and the renewable strength generated from such tasks is ate up by means of the stakeholder as consistent with the authorities norms.

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