Borosil Renewables Limited has entered into a share purchase agreement with Clean Max Prithvi Private Limited (CMPPL) and Clean Max Enviro Energy Solutions Private Limited (CMEESPL) to acquire a 49 per cent stake.
The company will initially acquire 4,900 equity shares of the face value of Rs 10 each (49 per cent stake of paidup share capital) in CMPPL from CMEESPL for a consideration of Rs 49,000. Under the agreement, CMPPL plans to develop and maintain a 16.50 MW hybrid solar-wind power plant in Gujarat, with the generated power exclusively supplied to Borosil Renewables under captive consumption rules.