Hyundai Motor India Limited — Others, 20-11-2024: Others

Hyundai Motor India Ltd. has announced a board meeting to discuss the execution of a Share Subscription and Shareholders’ Agreement with Fourth Partner Energy Private Limited and FPEL TN Wind Farm Private Limited. This agreement aims to enhance Hyundai’s renewable energy sources with a planned investment of approximately Rs. 38.05 crore for a minimum 26% equity stake. The acquisition involves establishing a solar power plant (75 MW) and a wind power capacity (42.9 MW) to supply renewable energy under a Group Captive Model, reflecting a strategic move towards sustainable energy consumption. This development may evoke a positive outlook from investors, given the increasing focus on renewable energy.