Stove Kraft to acquire 26% stake in Bhuj Wind Energy

Stove Kraft has executed a Share Purchase and Shareholders Agreement for Power Purchase from Bhuj Wind Energy, a subsidiary of Continuum Green Energy.

The company will subscribe to 26% equity capital in Bhuj Wind Energy by investing Rs. 2,62,50,000/-.

The acquisition is in terms of compliance with regulatory requirement for captive power plants under the provisions of Electricity Act, 2003 and Indian Electricity Rules, 2005 and procurement of cost-effective renewable energy.