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Five small solar companies have been acquired by Suzlon Energy for an undisclosed amount for implementing various renewable energy projects across the country.
Suzlon has said in a BSE filing that “The company has acquired Gale Solarfarms, Tornado Solarfarms, Abha Solarfarms, Aalok Solarfarms and Shreyas Solarfarms to implement various renewable energy projects across the country, including the recently won solar projects in Maharashtra of 70 MW.”
It further added that these companies that have been acquired at face value do not have any operations or assets currently and have been acquired primarily to be used as SPVs for the proposed solar project.
