Wipro to acquire up to 9.95% equity stake in FPEL
Wipro said on Friday that the company has signed a definitive agreement to subscribe for the equity share capital in FPEL Ujwal Private Limited for a value of Rs 6.3 lakh. The transaction is expected to be completed before May 31, 2024.
The stake acquisition will enhance the proportion of usage of renewable energy for Wipro offices in Karnataka, said the company in a note to exchanges.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Professional Certificate in Digital MarketingVisitIndian School of BusinessISB Digital TransformationVisitNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisit«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,» the company said in a statement.
FPEL was incorporated in February 2022 and is a Special Purpose Vehicle formed by Fourth Partner Energy Private Limited for the purpose of setting up captive solar power projects in Karnataka. The first audited financial statements of FPEL for the FY 2022-23, are under preparation and not yet finalised.
