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Syngene International Ltd. ( (IN:SYNGENE) ) has issued an announcement.
Syngene International Ltd. has revised its renewable energy sourcing plan by entering into a Power Purchase Agreement and Share Purchase Agreement with O2 Renewable Energy V Private Limited, an O2 Group special purpose vehicle that operates a wind-solar hybrid power plant in Karnataka. In place of an earlier arrangement with another O2 entity, the company will now invest Rs. 35 million to acquire at least a 26% equity stake in O2 Renewable Energy V, primarily through purchasing shares from Dalmia Cement (Bharat) Ltd., in order to secure captive status under India’s Electricity Act and increase the share of renewable power in its overall energy consumption, with the transaction expected to be completed in tranches by March 31, 2026.
More about Syngene International Ltd.
Syngene International Ltd., part of the Biocon Group, operates in the contract research, development and manufacturing (CRDMO) space, providing integrated scientific services to global pharmaceutical, biotechnology and other life sciences companies from its facilities in Bengaluru, India.
Average Trading Volume: 63,871
Technical Sentiment Signal: Hold
Current Market Cap: 263.6B INR
Find detailed analytics on SYNGENE stock on TipRanks’ Stock Analysis page.