CLN Energy Acquires 40.1% Stake in Electrovault Power for Rs. 40,010

CLN Energy Limited has acquired a 40.1% equity stake in Electrovault Power Private Limited for a total consideration of Rs. 40,010. This acquisition is part of a strategic partnership with Manikaran Power Private Limited and GreenAge Capital Pte Ltd. The new ownership structure is expected to enhance collaboration, align stakeholder interests, and improve operational efficiency. Electrovault plans to develop, build and operate Battery Energy Storage System (BESS) or BESS integrated renewable energy plants in India, aligning with the country's ambitious renewable energy targets and the need for grid stabilization.