ENGIE purchases 90 pct of Simpa Energy India from parent company
- Country:
- India
Energy services group ENGIE Tuesday announced that it has acquired a controlling stake in Simpa Energy India Pvt Ltd and is investing to fund geographic expansion and accelerate growth.
The move reinforces ENGIE’s commitment to decentralized renewable energy solutions globally and supports India’s rapid transition to clean power, an ENGIE statement said.
Under the terms of the transaction, the ENGIE has purchased 90 per cent of Simpa Energy India from its parent company, Simpa Networks, Inc., gained a controlling stake in the Indian business, and also made an investment into Simpa Energy India to accelerate further growth, it said
According to the statement, the Simpa Energy India is the leading rural rooftop solar provider in India, selling solar home systems (SHS) to households and small businesses in rural areas of Uttar Pradesh, Bihar and Odisha.
(With inputs from agencies.)
ALSO READ
ISL: Mumbai City, Odisha FC lock horns as tussle for League Shield intensifies
BJD alleges misuse of EC's name by BJP leaders in Odisha
Odisha: One prisoner who escaped from Bhawanipatna jail caught, the other still at large
Coal Scam: Delhi HC stays Ex-Union Minister Dilip Ray's conviction to contest Odisha Assembly Elections
Our mission is zero casualties in heat waves during polls: Chief Electoral Officer of Odisha