Gujarat Alkalies And Chemicals (GACL) has executed Share Purchase Agreement with Clean Max Enviro Energy Solutions for setting up 75.9 MW Renewable Hybrid Power Project for 100% captive use by the company. As per the agreement, the company will acquire 26% shareholding of Clean Max Sphere Energy, a subsidiary Company of Clean Max Enviro Energy Solutions.
Clean Max Sphere Energy will work as Special Purpose Vehicle (SPV) for setting-up the Hybrid Power Project. The company and Clean Max Enviro Energy Solutions will further invest in equity shares in ratio 26:74 from time to time for establishment of the power plant. The company will also execute Shareholders' Agreement, Power Consumption Agreement(s) and any other agreement(s) as may be required with Clean Max Enviro Energy for the same.
Gujarat Alkalies and Chemicals (GACL) is a multi-product chemical manufacturing company, having various products in its basket and is one of the leading manufacturers of Caustic Soda Lye.
