SPR Auto Invests ₹6 Cr in Solar Power for Cost Savings
By ThePip Desk
SPR Auto Technologies invests ₹6 crore for a 23.21% stake in Sunsure Solarpark, aiming to cut energy costs and meet regulatory compliance.
SPR Auto Technologies Limited, formerly Shriram Pistons & Rings Limited, has strategically acquired a 23.21% stake in Sunsure Solarpark Forty Private Limited for ₹6 crore. This investment directly supports a group captive solar power project.
The move aims to optimize energy costs for the company and fulfill regulatory requirements mandated by the Electricity Act, 2003. This is a clear through-line connecting capital deployment with operational efficiency and compliance.
Key Investment Details
- Acquisition Cost: ₹6.00 crore, based on a fair market valuation.
- Stake Acquired: 23.21% in Sunsure Solarpark Forty Private Limited.
- First Tranche Payment: ₹0.90 crore due on or before September 24, 2026.
- Second Tranche Payment: ₹5.10 crore upon receipt of a Second Tranche Subscription Notice.
Sunsure Solarpark Forty Private Limited, a wholly owned subsidiary of Sunsure Energy Private Limited, was incorporated on January 8, 2025. It has yet to commence commercial operations and reported nil turnover since its inception, operating in the renewable energy sector.
The Solar Partner Profile
- Incorporation Date: January 8, 2025.
- Registered Office: Gurgaon, Haryana.
- Authorized Share Capital: ₹10,00,000.
- Paid-up Share Capital: ₹1,00,000.
SPR Auto Technologies confirmed this transaction is not a related-party deal, with no promoter, promoter group, or group companies holding interest in Sunsure Solarpark. This ensures an arms-length transaction focused purely on strategic benefits.
Concurrently with the equity subscription, a power purchase agreement was signed on August 25, 2026. This agreement specifically secures solar power from the Sunsure Solarpark project for SPR Auto Technologies’ manufacturing facility located at Pathredi, Rajasthan.
The acquisition requires no governmental or regulatory approvals, underscoring a streamlined process. This strategic investment highlights a clear corporate shift towards sustainable energy sourcing and cost management, aligning with broader industry trends and regulatory frameworks.