Grasim Industries has received approval for acquisition of 26% equity stake each in AMPIN Energy C&I Three and AMPIN Energy C&I One, a Special Purpose Vehicles (SPVs) for the purpose of generation and transmission of renewable energy to Chamarajanagar, Karnataka and Cheyyar, Tamil Nadu, Company’s Paint plants respectively.
The objective of acquisition is to meet the green energy needs; optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws. The Board of Directors at its meeting held on August 09, 2024 has approved the same.
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.
