Borosil Renewables Acquires 49 Percent Stake in Clean Max Prithvi
Borosil Renewables has picked up 49 per cent stake in Clean Max Prithvi from Clean Max Enviro Energy Solutions for INR 49,000.
September 05, 2024. By EI News Network
“The company will initially acquire 4,900 equity shares of the face value of INR 10 each (49 percent stake of paid up share capital) in CMPPL from Clean Max Enviro Energy Solutions Pvt. Ltd. (CMEESPL) for a consideration of INR 49,000,” informed Borosil Renewables in a regulatory filing.
As per the agreement between the two companies, CMPPL would develop and maintain a Hybrid Solar-Wind power plant of 16.50 MW in Gujarat, from which the power generated will be supplied exclusively to Borosil Renewables as per the rules of captive power consumption.
The filing further mentioned, “Both the shareholders viz. the company and CMEESPL will be required to infuse further funds in CMPPL (in proportion to their shareholding) for setting up the aforesaid hybrid power plant. Accordingly, the company plans to further invest, in one or more tranches, about INR 17.83 crore in CMPPL.”
please contact: contact@energetica-india.net.
Aman Mehtani
Founder & Group CEO
ADM Group Offers Smart, Sustainable Solutions for Global Automotive Industry
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix