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					</table><p>Pharmaceutical and biotechnology company <a href="https://www.lauruslabs.com/" target="_blank" rel="noopener">Laurus Labs</a> has acquired 26% equity shares in Ethan Energy, a special-purpose vehicle (SPV) of Vibrant Energy Holdings, for ₹39 million (~$477,744).</p>
<p>The acquisition will allow Laurus Labs to procure 100% of the energy produced by Ethan Energy from its 10 MW solar project under open access in captive mode.</p>
<p>The pharma company entered into a share subscription agreement and shareholders&#8217; agreement to purchase 740,000 equity shares of the face value of ₹10 (~$0.12) each at a premium of ₹42.70 (~$0.52).</p>
<p>Laurus Labs manufactures active pharmaceutical ingredients (APIs) for anti-retroviral and Hepatitis C drugs. They also manufacture APIs for oncology and other therapeutic areas. The company has manufacturing plants in Hyderabad and Vishakhapatnam.</p>
<p>Vibrant energy is a majority-owned subsidiary of Blueleaf Energy. Headquartered in Singapore and Hyderabad, Vibrant has over 1,117 MW of renewable assets under management, including those under construction. Singapore-based renewable energy company Blueleaf Energy had <a href="https://mercomindia.com/blueleaf-enters-india/" target="_blank" rel="noopener">acquired</a> a majority stake in Vibrate Energy Holdings from ATN International.</p>
<p>Blueleaf Energy is a portfolio company owned by Macquarie&#8217;s Green Investment Group (GIG), operating on a standalone basis. GIG specializes in project development and delivery, green infrastructure principal investment, green impact advisory, and the management of portfolio assets.</p>
<p>Early this year, Vibrant Energy Holdings <a href="https://mercomindia.com/daily-news-wrap-up-data-centers-green-energy/" target="_blank" rel="noopener">signed</a> power purchase agreements with Sify Technologies for 231 MW of solar and wind energy capacity to power Sify&#8217;s latest hyperscale data centers, of which 67 MW solar PPA was signed in March 2021 and recently commissioned.</p>
<p>Tata Power Solar had <a href="https://mercomindia.com/tata-power-solar-commissions-66-mw-epc-project-for-vibrant-energy/" target="_blank" rel="noopener">commissioned</a> an engineering, procurement, and construction project of 66 MW for Vibrant Energy. The project produces 110,029 units of energy annually. The installation will lead to a reduction of carbon emissions of up to 0.9 million tons. The project is spread over 191 acres comprising 1,27,268 solar modules and has been completed within a record nine-month period.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Laurus Labs to Buy Solar Via Open Access in Captive Mode from Vibrant Energy

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