In a stock exchange filing, solar manufacturer Premier Energies today announced that its joint venture, Premier-Green Aluminium—formed for manufacturing aluminium frames for solar PV modules—has allotted 25,000 equity shares of INR 10 each to Nuevosol Energy (the JV partner).
With this allotment, Premier Energies now holds 80% of the JV company’s equity share capital with the remaining 20% held by Nuevosol Energy.
The JV company proposes to raise additional capital of around INR 60 crore in tranches for the implementation of the project, in addition to availing borrowings from banks and financial institutions.
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