RIL to secure 100% stake in 2 solar SPVs from MSEB Solar Agro Power

Reliance Industries Limited (RIL) informed the stock exchanges that its Board of Directors, in a meeting held on March 22, approved the acquisition of 100 percent equity shares in MSKVY Nineteenth Solar SPV Limited and MSKVY Twenty-second Solar SPV Limited.

These shares are set to be procured from MSEB Solar Agro Power Limited.

The move is in line with the terms of the tender awarded to RIL for the establishment of an aggregate solar capacity of 128 MW spread across various locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, RIL said.

Upon completion of the acquisition process from MSEB Solar Agro Power Limited, Reliance Industries plans to provide details about the transaction.