Ashok Leyland buys stake in solar energy firm

Ashok Leyland Ltd. has picked up a 26% stake in Prathama Solarconnect Energy Pvt. Ltd. (PSEPL) by investing ₹18.66 crore. The commercial vehicle manufacturer, in a regulatory filing, said PSEPL was engaged in solar power generation business and the investment has been made for purchase of solar power at a subsidised rate under group captive scheme. Incorporated on January 15, 2019, PSEPL posted a loss of ₹77 lakh for FY19-20 (from January 15,2019 to March 31, 2020).

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