DLF Cyber City Purchases 26 Percent Stake in Suncloud Solar

To be consider as captive user in terms of the Electricity Act, 2003 and the consolidated rules, DCCDL is needed to subscribe to equity shares including around 26.43 percent of the issued and paid-up equity share capital of Suncloud Solar.

May 01, 2023. By EI News Network

DCCDL, via its entirely-owned subsidiaries DLF Info City Chennai Ltd, has agreed to acquire about 26.43 percent shares of Suncloud Solar Pvt Ltd cash worth INR 8.41 crore.

It has been established to function the construction, operation and maintenance of the captive production plant and to supply, power produced from the captive production plant to DLF Info City Chennai under the Power Purchase Agreement (PPA).

To be consider as captive user in terms of the Electricity Act, 2003 and the allied rules, DCCDL is needed to subscribe to equity shares including around 26 percent of the issued and paid-up equity share capital of Suncloud Solar.

DLF has two industry sectors— development business which is residing and rental business where it constructs commercial projects (office and malls) and then facilitates them on lease to corporates and retailers.

Suncloud Solar Private Limited was established on 25 March 2022. Its headquartered in Mumbai, Maharashtra, India.

The company is involved in the business deals mainly in solar power solutions comprising of design, engineering, fabrication, installation, commissioning and managing of distributed rooftop solar power plants mostly for captive utilisation of commercial and industrial consumers in India.

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Business

DLF Cybercity

Suncloud Solar

Power Purchase Agreement