BASF India Ltd to Acquire 26% Stake in Clean Max Amalfi for Renewable Power Procurement

BASF India Ltd has informed about the approval of its Board of Directors for the acquisition of 26% equity share capital of Clean Max Amalfi Private Limited, a Special Purpose Vehicle incorporated by Clean Max Enviro Energy Solutions Limited. The acquisition is expected to procure ~ 28,860 MWh annually of renewable power (wind-solar hybrid) for its manufacturing sites at Dahej and Panoli under the Captive Power Generation Mechanism. The transaction is subject to customary conditions precedent including receipt of requisite approvals.