Apollo Tyres acquires 27.2% stake in CSE Deccan Solar for Rs 9.3cr

Apollo Tyres Ltd. said that it has acquired a stake of 27.2% in CSE Deccan Solar Private Limited for a sum of INR 93.3 crores.

Based in Mumbai, CSE Deccan Solar will be involved in the business of solar energy generation and distribution.

Although it was incorporated in February 2019, CSE Deccan Solar is yet to begin its business operations.

Apollo Tyres said that it has agreed to buy the metered energy produced by the captive generating plant as per the power purchase agreement.