Sangam (India) Limited has taken a significant step towards sustainability by acquiring a stake in CGE II Hybrid Energy Private Limited.
The company has entered into a Power Consumption Agreement with CGE II Hybrid Energy and a Share Purchase & Shareholders Agreement with both CGE II Hybrid Energy and Continuum Green Energy Limited. The move is aimed at securing renewable energy under captive status for Sangam’s manufacturing units in Rajasthan, enhancing captive renewable power consumption up to 12 MW across its plants in Village Atun, Sareri, and Billiya Kalan in Bhilwara district.
CGE II Hybrid Energy, a subsidiary of Continuum Green Energy Limited incorporated in December 2021, focuses on renewable power generation, distribution, transmission, and supply in Rajasthan. Under this transaction, Sangam acquired 1,14,24,242 equity shares at a total cost of ₹11.42 crore, representing a 3.86% post-allotment stake. The acquisition was completed on 14th October 2025, and the project qualifies as a captive consumption initiative under applicable electricity regulations. Promoters of Sangam have no interest in the target entity, and no regulatory approvals were required for this acquisition.
