Waaree Renewable Technologies enters into MOU with AES India Pvt Ltd

Waaree Renewable Technologies Limited has entered into a non-binding Memorandum of Understanding (MOU) with AES (India) Private Limited, which is a wholly owned subsidiary of AES Corporation, USA.

This MOU is made to collaborate with AES for locally manufacturing, upgradation, marketing and development of innovative "MAVERICK ™" solar module integrated mounting structures in India through formation of joint venture company or special purpose vehicle, subject to finalisation of definitive agreement between the Parties and further subject to statutory approvals, if any.

"MAVERICK™" technology is owned by 5B, Australia in which AES Corporation, USA is a shareholder.

The Parties shall in due course discuss, negotiate and finalise the binding definitive agreement.

Shares of Sangam Renewables Ltd was last trading in BSE at Rs. 348.30 as compared to the previous close of Rs. 389.90. The total number of shares traded during the day was 93194 in over 1444 trades.

The stock hit an intraday high of Rs. 380.00 and intraday low of 338.65. The net turnover during the day was Rs. 33356924.00.

Source : Equity Bulls

Keywords

INE299N01013 MOU WaareeRenewableTechnologies AESIndia AESCorporation