Borosil Renewables has announced the successful acquisition of a 49% stake in Clean Max Prithvi Private Limited (CMPPL), a special purpose vehicle set up by Clean Max Enviro Energy Solutions Pvt Ltd (CMEESPL). This strategic investment will see Borosil Renewables invest ₹17.83 crore in CMPPL, which will develop and maintain a hybrid solar-wind power plant with a capacity of 16.50 MW. The renewable energy generated from this project will be supplied exclusively to Borosil Renewables.
The acquisition, completed for a total consideration of ₹49,000, now makes CMPPL an associate company of Borosil Renewables. This investment will be made in one or more tranches, further cementing Borosil’s commitment to sustainable energy.
With this move, Borosil Renewables aims to strengthen its renewable energy portfolio and support its long-term sustainability goals.
