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.
Aditya Birla Group acquires 26% stake in renewable energy company to power Hindalco’s smelter
7 Feb 2024 14:16 reported by Joy Liu
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