DCW has executed a Share Subscription and Shareholders' Agreement (SSSHA) with Kaze Renewables (SPV/Power Producer) and Cleantech Solar India OA 2 Pte. for subscribing 24,41,875 Equity Shares of face value of Rs 10 each at a premium of Rs 70 (Equity Shares) which is equivalent to 28.96% of the paid-up capital of SPV, as captive user of the Project. Pursuant to the subscription of Equity Shares, SPV will become an 'associate' of the Company.
Subscription of equity Shares in SPV will enable the Company to consume solar power generated by SPV as a 'captive user'. The SPV will establish two Renewable Power Plants in Tamil Nadu having combined captive capacity of 44.5 MWp under Captive Power Scheme, which will enable the Company to source solar power from the said SPV for its manufacturing plant(s) located in the State of Tamil Nadu.
DCW is a diversified manufacturer of basic chemicals, such as: Caustic Soda, Liquid Chlorine and Chlorine based products.
