Can anyone please explain their rationale of acquiring Ramagiri Renewable Energy Limited? I did not find any mentions in their Annual Report’21. They have uploaded a scanned copy for Annual Report’22 so its very difficult to look for anything there. They recently switched off one of the furnaces at Impex Metal & Fero Alloys Limited owing to steep rise in power cost. So is there any relationship between these two events. I understand RREL has wind and solar power generators. Would they be able to offset the rise in the power cost in long run. Are they trying to move towards renewable energy as backward integration or entirely different business line?
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