HMPL Forms Subsidiary for Power & Renewable Energy Projects

New Delhi, Mar 19 (PTI) Diversified player Hazoor Multi Projects Ltd (HMPL) on Wednesday said it has incorporated a new arm to undertake power and renewable energy projects.

The development comes after the company, in January, informed about its plans to set up a 500 MW solar project in Andhra Pradesh at an investment of Rs 2,500 crore, last month, and a 1.2 GW capacity solar park in Solapur, Maharashtra.

"...a wholly owned subsidiary in the name of Hazoor New & Renewable Energy Pvt Ltd has been incorporated...and except HMPL no promoter/promoter group/group companies have any interest in the entity," HMPL said in a regulatory filing.

The subsidiary has been incorporated for the execution of power and green energy business, the company said.

Hazoor New & Renewable Energy Pvt Ltd is a related party of HMPL, the filing said.

Mumbai-based HMPL provides engineering, procurement and construction services in renewable energy and building road projects segments.