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Laurus Labs to Acquire 26% Stake in Solar Power Company

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Laurus Labs, a pharmaceutical company, announced that it will purchase 26 percent of solar charger manufacturer Ethan Energy India Private Limited. According to the company, Laurus Labs will have 100 percent access to Ethan Energy’s solar energy plant with 10 MW through this stake purchase.

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Ethan Energy is Vibrant Energy Holdings’ special purpose vehicle (SPV). Laurus Labs plans to buy 7,40,000 shares.

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Laurus Labs reported a 14 per cent increase in its consolidated net profit to Rs 233 crore over the same quarter last year. This was in the September 30th, 2022. In the same quarter last year, it had posted a profit of Rs. 204 crore. The revenue from operations grew to Rs 1,576 crore, compared with Rs 1,203 crore in last year’s quarter.

Laurus Labs, an Indian multinational pharmaceutical company and biotechnology company, is headquartered in Hyderabad, India. It has manufacturing plants at Visakhapatnam and Hyderabad. It focuses on active pharmaceutical ingredients, generic formulations and custom synthesis.

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Vibrant Energy, a leader in Open Access renewable energy solutions for corporate customers, is proud to be a pioneer. Vibrant helps commercial and industrial (C&I) customers reach their 100% renewables goals by providing easy-to-implement (OpEx), solutions for energy consumption from offsite (Wind and Solar) farms. Vibrant is headquartered in Singapore and Hyderabad. It has more than 1,117 MWs under management (AUM) including assets that are currently under construction.

Vibrant Energy is a leading developer of Open Access renewable energy solutions dedicated to corporate consumers. Vibrant empowers Commercial and Industrial (C&I) consumers to achieve their 100% renewables targets by deploying easy to adopt (OpEx) solutions for energy consumption from Offsite (Wind and solar) farms. Headquartered in Singapore and Hyderabad, Vibrant has over 1,117 MWs of Assets Under Management (AUM), including under construction assets.

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