BASF India has received approval for the acquisition of 26% in the equity share capital of Clean Max Amalfi, Special Purpose Vehicle incorporated by Clean Max Enviro Energy Solutions (the Developer), for an amount not exceeding Rs 6.59 crore for procurement of around 28,854 MWh (including green attributes) of renewable power (solar & wind) for its manufacturing sites at Dahej and Panoli under Group Captive Power Generation Mechanism, as per the prevailing renewable energy policy of the State of Gujarat and the Electricity Act 2003 and the Rules thereunder.
The closing of the transaction is subject to signing of the Definitive Agreements i.e., Shareholders’ Agreement and 25-year long term Power Purchase Agreement, receipt of the requisite approvals and other specified conditions. The Board of Directors of the company at its meeting held on July 30, 2025 has approved the same.
BASF India was incorporated in 1943 and one of the leading company in chemical sector.
