Hero MotoCorp on Thursday announced that it has completed the acquisition of a 26% equity stake in Clean Max Karakoram Private Limited, a special purpose vehicle (SPV) set up for its Solar Power Wheeling project. The move is part of the company’s previously announced clean-energy initiative aimed at powering its Dharuhera and Gurugram manufacturing plants under the captive scheme.
According to the exchange filing, the initial investment for the acquisition stands at Rs 26,000, with the remaining amount to be infused as per the terms of the Share Subscription and Shareholders Agreement signed on October 30, 2025. The SPV has been acquired from Clean Max Enviro Energy Solutions Ltd.
Hero MotoCorp had first disclosed the plan on February 6, 2025, signalling its intent to strengthen sustainability and reduce power-cost dependence through renewable energy.
The transaction further strengthens Hero MotoCorp’s long-term renewable energy commitment, aligning with its broader ESG goals.
