Syngene invests in renewable energy for sustainable power

Syngene International Limited announced an investment in O2 Renewable Energy V Private Limited (O2 RE V) to secure renewable power for its operations. This new investment, totaling Rs. 35,000,000, will acquire an 8.23% equity stake from Dalmia Cement (Bharat) Limited in O2 RE V, a company specializing in power generation from wind and solar hybrid plants.

The acquisition aims to enhance Syngene's renewable energy consumption. Syngene and other captive investors will maintain a minimum 26% stake in O2 RE V to ensure captive status under the Electricity Act. O2 RE V, which had a turnover of Rs. 20,29,37,390 for FY 2024-25, operates a 2.2 MW wind power and 3.125 MW solar power plant in Karnataka, India.

The acquisition of equity shares is expected to be completed in one or more tranches on or before March 31, 2026, or a mutually agreed-upon date. This investment underscores Syngene's commitment to sustainable energy sourcing.