Exide Energy Solutions Limited (EESL), a material wholly owned subsidiary of Exide Industries, has signed an Energy Supply Agreement with Clean Max Beta Private Limited to acquire solar power under the Captive User Policy. As part of this agreement, Clean Max Beta will develop and supply 17 MWp of solar power to EESL in Karnataka.
In addition, EESL has entered into a Share Purchase Agreement to acquire a 26% equity stake in Clean Max Beta with a total investment of ₹5.95 crore. This initiative is aimed at increasing renewable energy consumption at EESL and does not qualify as a related party transaction under SEBI regulations.
