Bharat Forge invests Rs 28.7 million in Avaada SatraMH

Bharat Forge, a Pune-based multinational infrastructure company, has made an equity investment of Rs 28.7 million in Avaada Renewable’s special purpose vehicle (SPV) Avaada SataraMH (ASPL). The investment was made against the purchase of solar power from Avaada. Bharat Forge had also invested Rs 113.75 million earlier this month, in the same SPV. Now, with this additional investment, the company’s stake in ASPL has reached 11 per cent. While the earlier investment was for the purchase of power from a 32.5 MW solar project, the latest investment is for the purchase of power from 8.2 MW of solar projects.

 

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