Hazoor Multi Projects Ltd Expands into Renewable Energy

Hazoor Multi Projects Ltd has created a new subsidiary, Hazoor New & Renewable Energy Pvt Ltd, to engage in power and renewable energy projects. This move follows their announcement to develop solar projects in Andhra Pradesh and Maharashtra, worth a total of Rs 2,500 crore.

In a strategic expansion, Hazoor Multi Projects Ltd (HMPL) has announced the creation of a new subsidiary focused on power and renewable energy initiatives. Named Hazoor New & Renewable Energy Pvt Ltd, this new entity will focus on executing green energy projects.

This development follows HMPL's earlier announcements to build a 500 MW solar project in Andhra Pradesh and a 1.2 GW solar park in Solapur, Maharashtra, with a combined investment of Rs 2,500 crore. The incorporation ensures that HMPL remains the sole interested party in the new subsidiary.

Based in Mumbai, HMPL is known for its expertise in engineering, procurement, and construction services, particularly in renewable energy and road building sectors. The company aims to strengthen its foothold in the growing renewable energy market through its newly formed arm.

(With inputs from agencies.)