Linde India buys 26% stake in Avaada MHYavat for over Rs 11 cr

26 Apr 2022 CW Team

Linde India purchased 1.13 crore equity shares or a 26% stake in Avaada MHYavat for Rs 11.40 crore to help its renewable power purchase under the captive mechanism, resulting in a lower tariff and cost savings.

In December 2021, the board had approved a proposal for an aggregate capital expenditure of Rs 28.70 crore for sourcing renewable power for the merchant Air Separation Units owned and operated by Linde India at Taloja in Maharashtra and Dahej in Gujarat and the under-construction air separation plant at Sri City in Andhra Pradesh.

The company plans to enter into joint venture (JV) agreements with the identified solar power generating companies through the Special Purpose Vehicles (SPVs) to be set up in some time to allow as captive consumers of the power.

The board approved Linde India's plan to acquire equity shares in JV SPVs up to 26% with solar and wind power generators for supplying renewable energy to the merchant air separation units.

Linde India recorded a 19.4% increase in its consolidated net profit to Rs 67.83 crore in the fourth quarter (Q4) of December 2021 from Rs 56.80 crore during the same period the previous year.

Its revenue from operations grew 35.4% to Rs 644.15 crore in Q4 December 2021 from Rs 475.4 crore registered in the previous year.

Shares of the company increased by 0.05% to Rs 3,477.60 on the Bombay Stock Exchange (BSE). The company has its appearance in the industrial gases business, providing a complete solution to all businesses for gas supply and related equipment and services. The company is a manufacturer of cryogenic and non-cryogenic vessels and also designs and commissions projects.

Image Source

Also read: Linde launches new C-MATIC robotic trucks

Infrastructure Energy

17 Sep 2025

Invenia Wins Rs 3.6 Billion Contract for PowerGrid Data Centre

Invenia-STL Networks Limited, a leading digital infrastructure and IT services company, announced it has secured a major contract worth over Rs 3.6 billion from PowerGrid Teleservices Limited (PowerTel), a wholly owned subsidiary of the Power Grid Corporation of India Limited (PGCIL), the nation’s largest electric power transmission utility.Under the agreement, Invenia will design, build, commission and maintain the complete IT and cloud infrastructure for a greenfield Tier III data centre at PowerGrid’s Manesar facility. In addition, Invenia will establish a Disaster Recovery Data Centre ..

Vikram Solar Secures 200 MW Order to Expand India’s Solar Capacity

Vikram Solar, one of India’s leading solar PV module manufacturers, has announced a major order of 200 MW high-efficiency solar modules from AB Energia, a specialist in end-to-end EPC solutions for commercial and industrial (C&I) solar projects. The modules, rated at 590 Wp and above, will be deployed across Maharashtra, Madhya Pradesh and Gujarat — three solar-progressive states accelerating their adoption of clean energy.Under this order, Vikram Solar will supply its advanced M10R N-Type TOPCon modules, designed for superior performance, reliability and higher energy yield. Deliverie..

Shriram Properties Backs Neerathon 2025 to Promote Water Conservation

Shriram Properties Limited (SPL), one of India’s leading residential developers in the mid-market and mid-premium segments, reaffirmed its commitment to sustainability and community welfare by supporting IPA Neerathon 2025 in Chennai as the Title Sponsor. The event, which attracted thousands of participants across 10K, 5K and 3K categories at Island Grounds, was more than a race — it was a movement for water conservation and environmental stewardship.For SPL, this partnership aligns with its long-standing efforts to support initiatives beyond real estate, promoting sustainable communities ..