NITCO Ltd. Sells Wind Energy Business to Siva Green Energy for ₹63 Million

NITCO Ltd. has announced the sale of its wind energy business to Siva Green Energy for a consideration of ₹63 million. This strategic move aligns with NITCO's plan to divest non-core assets and focus on its core business operations in the tile and marble industry.

Siva Green Energy, a renewable energy-focused company, aims to strengthen its portfolio with this acquisition, furthering its commitment to sustainable energy solutions. The sale is expected to streamline NITCO's operations while enabling Siva Green Energy to expand its footprint in India's renewable energy sector.

The transaction reflects NITCO’s strategy to optimize its business structure and Siva’s ambition to drive growth in wind power generation, aligning with India’s renewable energy goals.

Source: NSE India, Economic Times