Nuvoco Vistas Corporation Ltd. Approves Investment in Clean Max for Hybrid Renewable Energy Plant
Nuvoco Vistas Corporation Ltd. announced that its Board of Directors approved a major investment in Clean Max Ilghop Private Limited. The investment targets the establishment of a hybrid renewable energy supply plant at the Nimbol Cement Plant.The proposed investment involves acquiring a 26% shareholding in Clean Max Ilghop Private Limited, which is a Special Purpose Vehicle (SPV) established by Clean Max Enviro Energy Solutions Limited, an Independent Power Producer (IPP). The transaction is designed to secure power for the cement facility.
The investment will be formalized through the execution of several key agreements, including a Shareholders Agreement, Share Purchase Agreement, Energy Supply Agreement, and Power Purchase Agreement. Financially, the acquisition is structured as a Cash Consideration, with the cost of acquisition set at up to Rs. 26 crores.
The target entity, Clean Max Ilghop Private Limited, is engaged in the business of electric power generation, transmission, and distribution, with a specific focus on renewable energy solutions. The venture aims to establish the hybrid renewable energy plant at Bhikamkhore District, Jodhpur, Rajasthan, under the Build-Own-Operate-Transfer (BOOT) basis, operating within the Captive Model.
Clean Max will be responsible for the land acquisition, development, commissioning, and subsequent operation and maintenance of the project for a total period of 25 years, accompanied by a lock-in period of 10 years.
Key details regarding the acquired entity, Clean Max Ilghop Private Limited, are summarized below:
| Detail | Information |
|---|---|
| Target Entity | Clean Max Ilghop Private Limited |
| Business Sector | Electric power generation, transmission, and distribution (Renewable Energy) |
| Acquired Stake | 26% Shareholding |
| Cost of Acquisition | Up to Rs. 26 crores (Cash Consideration) |
| Incorporation Date | 24.10.2025 |
| Project Location | Nimbol Cement Plant, Bhikamkhore District, Jodhpur, Rajasthan |
| Turnover (Last 3 Years) | Nil |
| Related Party Status | Initially not related, but will become an associate company after the acquisition. |
NUVOCO Stock Price Movement
On Monday, Nuvoco Vistas Corporation Limited shares slipped by 1.84% to settle at ₹306.70. The stock traded on a volume of 271,716 shares, finding support near its day's low of ₹299.80.Source:
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