Cummins India Ltd. to Acquire Stake in Clean Max Yellowstone Private Limited for Renewable Power

Cummins India Ltd. has approved the proposal to acquire equity shares of Clean Max Yellowstone Private Limited, a Special Purpose Vehicle, for procuring renewable power. The investment of up to Rs. 2.70 Cr. will be made along-with other two Cummins group entities in India under Group Captive Model, together holding at least 26.00% of equity share capital of Clean Max. The investment is essentially to qualify as a group captive consumer and reduce the Scope 2 greenhouse gas (GHG) emissions and optimize power cost for its factories/premises. The proposed investment is expected to be completed approximately within next three months.