Suzlon Energy on Tuesday announced the acquisition of five solar energy companies to implement various renewable energy projects across India.
“Suzlon Energy has informed the Bombay Stock Exchange that it has acquired the following companies — Gale Solarfarms, Tornado Solarfarms, Abha Solarfarms, Aalok Solarfarms and Shreyas Solarfarms,” the renewable energy solutions provider company said in a regulatory filing.
However, the acquisition costs were not revealed.
The company recently won solar projects totalling 70 megawatt in Maharashtra.
“These companies, acquired at face value, do not have any operations or assets at present and have been acquired primarily to be used as special purpose vehicles for the proposed solar project,” the statement added.