Grasim Industries acquires two SPVs in Karnataka and Tamil Nadu

Grasim Industries has acquired equity stakes in two special purpose vehicles (SPVs), AMPIN Energy C&I Three Private Limited and AMPIN Energy C&I One Private Limited, to develop solar power facilities at its plants in Chamarajanagar, Karnataka, and Cheyyar, Tamil Nadu. The company will hold a 26 per cent stake in each SPV, investing up to Rs12 million for the Chamarajanagar plant and Rs12.6 million for the Cheyyar plant. Each SPV will facilitate the development of a captive solar power generation facility with a 3 MWp (DC) capacity at both locations.