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Pune-based forging company Bharat Forge has acquired 26 per cent stake in Avaada MHVidarbha (AMHVPL) to purchase solar power on a single captive user basis.
Bharat Forge has subscribed to 11,375,000 equity shares of AMHVPL for ₹11.37 crore. Bharat Forge had acquired nearly 9 per cent in Avaada SataraMH for ₹11.37 crore n 2020.
In February, Avaada Energy announced the raising of ₹1,440 crore through green bonds. The company is into rooftop solar, utility solar and open access power.
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