Sahaj Solar Limited has officially announced the execution of a Shareholders’ Agreement through its wholly-owned subsidiary, Sahaj Renewable Energy Trading FZCO, marking a major step in its international expansion plans. The agreement was signed on May 18, 2026, with Clarion Investment LLC for the establishment of a new joint venture company named Sahaj Energy Solar Panels Manufacturing LLC in the United Arab Emirates.
The newly formed joint venture will focus on setting up a 750 MW solar panel manufacturing facility in the UAE. According to the agreement, both Sahaj Renewable Energy Trading FZCO and Clarion Investment LLC will hold equal ownership in the venture, with each partner having a 50 percent stake. The arrangement reflects a balanced partnership structure designed to jointly manage and expand the manufacturing business.
As part of the governance structure, both companies will have the right to appoint one director each to the board of the joint venture entity. The board will collectively supervise the company’s strategic planning, business operations, and overall management of the proposed manufacturing facility.
Sahaj Solar further clarified that there is no cross-shareholding between the parties. Neither Sahaj Solar nor its subsidiary owns any equity in Clarion Investment LLC, while Clarion also does not hold any stake in Sahaj Solar or its subsidiary companies. The company also confirmed that Clarion Investment LLC has no association with Sahaj Solar’s promoter group or related entities.
The company stated that the transaction qualifies as a related party transaction only because Sahaj Renewable Energy Trading FZCO is its wholly-owned subsidiary. However, the agreement has been executed strictly on an arm’s length basis. Sahaj Solar also confirmed that no fresh shares are being issued under the present arrangement and there are no conflicts of interest involving nominee directors.
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