Suzlon Energy board on Tuesday said it will acquire a 76 per cent stake in Renom Energy Services for Rs 660 crore in two tranches from Sanjay Ghodawat Group.

The first tranche involves acquisition of a 51 per cent stake for a consideration of Rs 400 crore, a company statement said, adding in second tranche, it will acquire an additional 25 per cent stake within 18 months from the acquisition of the first tranche for a consideration of Rs 260 crore.

According to the statement, the Suzlon Group executed definitive agreements for the acquisition of a 76 per cent stake in Renom Energy Services Pvt Ltd (Renom), in two tranches, from Sanjay Ghodawat Group (SGG).