Borosil Renewables Limited has completed its committed investment in Clean Max Prithvi Private Limited (CMPPL), a renewable energy company developing a 16.50 MW hybrid solar-wind power plant in Gujarat. The investment was made under an exclusive agreement for the procurement of renewable power to support captive consumption.
The company initially acquired a 49% stake in CMPPL for ₹49,000 and had committed an additional investment of ₹17.83 crore in multiple tranches. The latest tranche of ₹14.26 crore was confirmed by CMPPL, and the total investment now stands at ₹17.82 crore. Following this, Borosil Renewables continues to hold a 49% stake in CMPPL.
This investment aligns with the company’s goal of increasing renewable energy usage and reducing its carbon footprint. CMPPL will generate clean energy exclusively for Borosil Renewables, ensuring a stable and sustainable power supply. The company confirmed that the transaction adhered to SEBI regulations and was conducted at arm’s length.
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