Aditya Birla Group acquires 26% stake in renewable energy company to power Hindalco’s smelter
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Update time : 2024-02-07 20:59:57
On February 5, Aditya Birla Group acquired a 26% stake in renewable energy company Ayana Renewable Power Four (ARPFPL) for Rs 16.25 million.
The acquisition is to supply its subsidiary Hindalco’s smelter in Odisha with 100MW of round-the-clock renewable energy through developing and operating a captive power plant.
After the acquisition, ARPFPL, a company engaged in power generation and supply, has become an associate company of Hindalco Industries.
Hindalco Industries is an aluminum and copper manufacturing company and belongs to Aditya Birla Group.
