Friday one of the well-known tech companies in India Wipro declared that they have signed a definitive agreement where they are acquiring some of FPEL Ujwal Private Limited’s equity for a value of Rs 6.3 crore.
Next year before May 31, they are expected to complete the transaction. The company revealed that the stake acquisition is going to improve the usage of renewable energy that will supplied to Wipro offices in Karnataka.
The company said in a statement, “This project is expected to help us move closer to our goal of becoming net zero by 2040 and 100% renewable energy for purchased electricity by 2030”.
In 2022 FPEL has a special target to form Vehicles by Fourth Partner Energy Private Limited. The main purpose is to set a captive solar power in Karnataka. The FPEL’s first audited financial statement for FY 2022-2023 is not ready yet. The company said it is under construction.
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