Syngene International Limited announced an investment of ₹35 crore (35 Million) in O2 Renewable Energy V Private Limited (O2 RE V). This investment is to acquire an equity stake from Dalmia Cement (Bharat) Limited. O2 RE V is an SPV of O2 Group with existing wind and solar hybrid assets, located in Kudligi, Bellary District, Karnataka. The company was incorporated on May 25, 2022, and its turnover for FY 2024-25 was ₹20.29 crore (202,937,390). The acquisition aims to enhance Syngene's renewable-based power consumption, with Syngene and other captive investors maintaining a minimum 26% stake in O2 RE V throughout the Power Purchase Agreement term. The acquisition of equity shares from Dalmia Cement (Bharat) Limited is expected to be completed in one or more tranches on or before March 31, 2026, or another mutually agreed date. This strategic move is a shift from the previously considered O2 Renewable Energy II Private Limited due to regulatory changes and infrastructure setup timelines for wind energy.