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Aster DM Healthcare, MIMS to acquire 26% stake in Oyster Green Hybrid Two
Apr-18-2024

Aster DM Healthcare (Aster) and Malabar Institute of Medical Sciences (MIMS), a material subsidiary of Aster DM Healthcare, have signed a definitive agreement on April 17, 2024, to acquire 26% stake in Oyster Green Hybrid Two. 

Aster and MIMS intend to meet a part of its total electricity requirement at its Facility through renewable sources of electrical energy and has accordingly approached the Power Producer to set up a captive solar power plant. Pursuant to mutual discussions, Oyster Green Hybrid Two has agreed to build, develop, install, commission, operate, manage, and maintain a 18 MWp captive solar power plant at the Project Site at Kerala. 

Aster and MIMS will purchase 100% of the net output electricity generated. As per the Electricity Act, not less than twenty six percent of the ownership is to be held by the captive user. The acquisition is pursuant to statutory requirement. The transaction is expected to complete on or before December 2024. Cost of acquisition is Rs 7 crore. 

Aster DM Healthcare operates as a healthcare company in the Middle East, India, and the Far East. It operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems.


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