Hero MotoCorp, Aurobindo Pharma to invest in captive solar power projects
The Board of Directors of Hero MotoCorp Limited has approved an agreement with CleanMax Enviro Energy Solutions Private Limited to set up a solar power project. A special purpose vehicle (SPV) will be formed for the project, with Hero MotoCorp investing Rs 51.5 million for a 26 per cent equity stake. The power generated will be supplied to Hero’s plants in Dharuhera and Gurugram under the group captive mechanism. Similarly, Aurobindo Pharma Limited’s Board has…