Yinson acquires 57.5pc stake in India-based firm for RM61.39m | Malay Mail

KUALA LUMPUR, Aug 21 — Yinson Holdings Bhd’s unit, Yinson Renewables Pte Ltd has acquired 82,948,457 ordinary shares in India’s solar energy company Rising Sun Energy Pvt Ltd, representing 57.5 per cent of the company’s issued and paid-up share capital, for RM61.39 million.

“The drivers behind this move are two-fold. Firstly, it diversifies the business footprint, with the potential to generate profitable revenue streams from an energy segment unrelated to oil and gas, thereby strengthening the group. The transportation and logistics company said the proposed acquisition is in line with Yinson’s vision, plus, it secured the first asset in Yinson Renewables portfolio and provides an initial base for further growth in operational renewable assets.

“As for India, it is one of the world’s most promising markets for solar energy with the Indian government having committed to reducing dependence on fossil energy and thus presents vast market entry opportunities for investors.

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