Grasim Industries has executed a Share subscription and Shareholders’ Agreement with Renew Green Energy Solutions (Promoter) & Renew Surya Uday (Power Producer) and Power Purchase Agreement with Renew Surya Uday (Power Producer). The purpose of entering into the agreement is to operate and maintain 17.6 MW Wind-Solar Hybrid power plant in the State of Gujarat wherein the power generated will be supplied exclusively to Grasim under the Captive Rules. The Project will be operated by Renew Surya Uday.
Grasim Industries is the flagship company of the Aditya Birla Group. The company’s businesses comprise viscose staple fibre, cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.