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Bharat Forge Invests ₹28.7 Million in Avaada’s Open Access Solar Project in Maharashtra

With this investment, the company holds an 11% stake in the SPV

December 28, 2020

/ Harsh Shukla
/ Finance and M&A, Solar,
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Bharat Forge, a Pune-based multinational infrastructure company, made an equity investment of ₹28.7 million (~$390,437) in renewable developer Avaada’s special purpose vehicle Avaada SataraMH (ASPL). The company invested the amount against the purchase of solar power from Avaada as a group captive user.

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Harsh Shukla

More articles from Harsh Shukla.
AvaadaBharat ForgeEquityinvestmentPowerSolar
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