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Mahindra & Mahindra has today signed a Power Delivery Agreement with ReNew Sunlight Energy (RSEPL) where under RSEPL as a Captive Generator shall be supplying solar power to the Company as a Captive User.
The Company has also signed a Share Subscription and Shareholders’ Agreement (SSSHA) with RSEPL and ReNew Green Energy Solutions for subscribing to 1,60,74,000 Equity Shares, in one or more tranches, which would result in the Company holding up to 31.2% of the Equity Share Capital of RSEPL.
Pursuant to the above acquisition of shares, RSEPL will become an Associate of the Company
Source: Capital Market
