Announced Mon, 17 Aug · 22:12 IST
BirlaNu to pick 26% stake in FPEL HR5 Energy for solar captive plant
BIRLANU · price
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Price reaction · full curve 14 horizons · vs prior close
+1.4%1-day move
₹1543.00
prior close
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base price
After-mkt
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AI summary
BirlaNu (formerly HIL) is acquiring a 26% stake in FPEL HR5 Energy, a special purpose vehicle of Fourth Partner Energy, for up to Rs 2.02 crore in cash. The deal sets up a 3.58 MW AC solar plant under the captive scheme for BirlaNu's Faridabad and Jhajjar units. FPEL HR5 is yet to start operations with nil turnover. Deal expected to close in 6 months. Not a related party transaction. Move supports green energy needs and helps meet regulatory captive power norms.
Likely market impact
Small equity outlay but locks in long term captive solar power for two plants, helping energy cost optimisation and regulatory compliance.