Syngene International Strengthens Renewable Energy Commitment with Rs 65 Million Investment

Published: 27 Mar 2025

Author: Precedence Research

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Syngene International Limited has increased its stake in O2 Renewable Energy II Private Limited by 33.79% to Rs 65 million. The idea is to increase renewable-based power consumption for the company and also maintain captive status under the Electricity Act. It operates a 201.2 MW Wind-Solar Hybrid power plant in Karnataka.

By investing, Syngene appears to comply with its sustainability goals and long-term business strategy, having a target to reduce operational costs and carbon footprints by using renewable energy sources. The amendment modifies one of the company's Share Subscription/Purchase and Shareholders Agreements with O2 Renewable Energy II Private Limited.

Syngene’s Vision for a Sustainable Future

One of the main steps by Syngene International Limited towards eco-friendly policies is increasing stakes in O2 Renewable Energy II Private Limited. The acquisition would also mean congruence with the direction given by the Indian government in making renewable energy mandatory than carbon-emitting energy. Syngene is the largest Contract Research Organization in India that offers fully integrated research, development, and manufacturing services to global life sciences companies primarily serving customers in pharmaceuticals, biotechnology, and health care. The company has its operations in research and manufacturing spanning over 1.9 million sq. ft., servicing over 400 customers, among them 13 of the top 15 global pharmaceutical companies. In its operations, Syngene has structured its business model around four core areas: Discovery Services, Drug Development Services, Manufacturing Services, and Dedicated Research and Development Facilities.

Market Presence Improvisation and Financial Performance

Syngene, as an international pharma company, has a strong presence in the international markets, with 73% of the revenues being contributed from its home USA market alone in FY22. The company further concentrates on innovation, infrastructure development, and strategic partnerships to broaden its market base. Most recently, it bought a biologics manufacturing facility from Stelis Biopharma Ltd. Syngene stock is priced at Rs 744 at the moment, with its all-time high of Rs 960 per share and low of Rs 608 in the last 52 weeks. The company's investments in renewable energy help it in carbon footprint, energy security preparedness, and added investor confidence.

Future Prospects

Syngene has poured Rs 65 million into O2 Renewable Energy II Private Limited, increasing its stake to 33.79% to meet its sustainability ambitions and comply with the Electricity Act in India. The firm operates a 201.2 MW Wind-Solar Hybrid plant in Karnataka. Finnish startup Soldera raised €2.5 million led by Lifeline Ventures, Skaala, and Lemonade Stand a €2.5 million round of funding. With an AI-powered platform to automate the management and trading of Guarantees of Origin (GOs), Soldera verifies renewable electricity production and monetizes it. The investment further consolidates Syngene's leadership in the field of environmentally responsible healthcare solutions since Soldera's innovative approach will streamline the renewable energy trading process, thus propelling the industry towards a sustainable future.