Suryachakra Power Corp Ltd said its unit Suryachakra Power Venture Pvt Ltd (SPVL) has signed an agreement with Germany-based Flagsol GmbH to set up power projects in India under the Jawaharlal Nehru National Solar Mission. No financial details were provided.
The company will submit bids to NTPC Vidyut Vyapar Nigam Ltd, the nodal agency for this purpose, by the following special purpose companies (50:50 equity partnership by SPVL and Flagsol) for setting up projects for purchase of power for 25 years.
The special purpose companies are Suryachakra MSM Solar India Pvt Ltd for 50 MW in Gujarat and Aasrit MSM Solar Energy Pvt Ltd for 5 MW in Chhattisgarh.
On Tuesday, Suryachakra Power shares gained 1.6% to Rs17 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 19,346 points.
Engineering company, ABB Ltd, said it will acquire Bengaluru-based Metsys Engineering and Consultancy for about Rs8.5 crore.
Metsys provides engineering services to original equipment manufacturers (OEMs) and end customers mostly in metal industry.
The acquisition will help ABB to further strengthen its position in the metals business, said the company in a regulatory filing.
On Tuesday, ABB shares ended 0.8% up at Rs789 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% up at 19,346 points.