Indoco launches initiative to promote green energy

Indoco Remedies has entered into a Share Purchase and Shareholder’s Agreement, along with the Power Purchase Agreement to acquire up to 26 per cent stake each in Kanakal Wind Energy and Jalansar Wind Energy for setting up solar power plants at Akkalkot, Solapur district in Maharashtra, a statement from Indoco informed.

This is in compliance with the regulatory requirement for being a ‘captive user,’ under the Indian Electricity laws, the statement added.