Aarti Industries Acquires Stake in Solar Power SPV for Renewable Energy

Noor Mohmmed

29/Jan/2025

What's Covered in the Article:

Aarti Industries acquires 26.25% equity in Pro-Zeal Green Power Seven Pvt. Ltd.
Investment supports the development of a 9.24 MW solar power plant.
Initiative aligns with Aarti Industries' commitment to renewable energy.

Aarti Industries Invests in Solar Power SPV for Renewable Energy Expansion

Aarti Industries Limited has announced its investment in Pro-Zeal Green Power Seven Private Limited, a Special Purpose Vehicle (SPV) set up for the development of a 9.24 MW solar power plant. The investment aligns with the company’s sustainability goals and will help in reducing its energy costs while advancing its commitment to green energy.

Details of the Investment

Aarti Industries has entered into a Share Subscription and Shareholder’s Agreement with Prozeal Green Power Private Limited and Pro-Zeal Green Power Seven Private Limited. As per the agreement, Aarti Industries will acquire:

26.25% equity stake in Pro-Zeal Green Power Seven Pvt. Ltd.
Investment of ₹6,30,000 in equity shares.
Subscription to 36,330 Compulsory Convertible Debentures worth ₹36.33 crore.

Strategic Importance of the Deal

Commitment to Renewable Energy: The investment strengthens Aarti Industries’ move toward sustainable power sourcing.
Operational Benefits: The 9.24 MW solar plant will generate power from H2 FY26, contributing to lower power costs for Aarti Industries.
Arm’s Length Transaction: The deal has been structured at fair market value, ensuring compliance with SEBI (LODR) Regulations, 2015.

Financial and Regulatory Aspects

The transaction is structured as a cash investment and is expected to be completed within 30 days.
No regulatory approvals are required for the acquisition.
Pro-Zeal Green Power Seven Pvt. Ltd. was incorporated on June 26, 2024, and operates only in India.

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