Cipla To Buy Stakes In AMP Energy
The pharmaceutical company, Cipla Limited has acquired 32.49 percent stake in AMP Energy Green Eleven to set up a captive solar power project in Maharashtra. Drug maker has signed a shareholder's agreement along with the power purchase agreement to acquire the stakes. In a statement the firm said that the acquisition is in line with the commitment to enhance the share of renewable power sources in its operation and to comply with regulatory requirements for being a captive user under Indian electricity laws.