DESCO Infratech Limited is acquiring Shri Green Agro Energies Private Limited (SGAEPL), marking its entry into the Compressed Biogas (CBG) segment as part of its long-term clean energy strategy.
Through the acquisition, DESCO gains access to a CBG project that is already at an advanced stage. The company said this will help it enter the market faster while reducing the risks usually linked to setting up new projects. The project has already received major capital investment, commercial arrangements are in place, and production is expected to begin shortly.
The plant has secured long-term arrangements for the supply of raw materials and has supporting infrastructure in place. This includes pipeline connections that allow gas to be directly supplied to major transmission and distribution networks. All required land, legal and regulatory approvals for the project have already been obtained.
DESCO Infratech said the acquisition marks an important step in its clean energy plans. By adding a project that is close to starting operations, the company said it is speeding up its expansion into the CBG segment while strengthening its clean energy portfolio.
The company said the move supports its wider national clean energy goals. By taking over a project that is nearly ready, DESCO said it is reducing the time needed to begin operations and lowering the risks involved in developing CBG projects. The company said this acquisition is a key part of its plan to grow as a national player in gas distribution and clean energy.
Meanwhile, shares of DESCO Infratech Limited were last traded on the BSE at Rs. 165.80, compared with the previous closing price of Rs. 170.50. A total of 35,500 shares changed hands during the day across 53 trades.
The stock touched an intraday high of Rs. 172.00 and a low of Rs. 160.00. The total turnover during the session stood at Rs. 58.74 lakh.
