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Concord Biotech invests in renewable energy plant

March 4, 2025 at 07:04 PM UTCBy FilingReader AI

Concord Biotech (BSE: CONCORDBIO) announced its board has approved an investment of ₹6,09,58,836 in Clean Max Everglades Pvt Ltd for a hybrid renewable energy plant installation. This investment will be made through a subscription to the rights issue of Clean Max. The Gujarat-based plant will have a wind capacity of 6.6 MW and a solar capacity of 3.3 MWp DC and will be installed at Dholka. Concord Biotech will hold 26% stake in Clean Max, aligning with the company's sustainability goals and efforts to reduce its carbon footprint. The investment will enable captive power generation, with the potential to cut energy costs and enhance operational efficiency.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

BSE:CONCORDBIOBombay Stock Exchange

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