Gujarat Alkalies partners for 75.9 MW renewable power project

Gujarat Alkalies and Chemicals Limited (GACL) announced today, November 5, 2025, the execution of a Shareholders' Agreement and Power Consumption Agreements. These agreements are with Clean Max Enviro Energy Solutions Limited and Clean Max Sphere Energy Private Limited (SPV Company) to establish a 75.9 MW Renewable Hybrid Power Project. The project is designed to provide 100% captive power consumption for GACL.

Under the agreement, Clean Max Enviro Energy Solutions Limited holds 74% and GACL holds 26% of the equity share capital in Clean Max Sphere Energy Private Limited. Both shareholders will maintain their proportionate holdings, and GACL will consume all the power generated by the SPV. The Power Consumption Agreement is valid for 25 years unless terminated earlier, and the Shareholders' Agreement remains valid until terminated by either party under specified conditions.

GACL has acquired its 26% equity share in the SPV at a face value of ₹10 per share. Furthermore, GACL will be entitled to appoint a Nominee Director to the Board of the unlisted private limited SPV Company.