Nuvoco Vistas Acquires 26% Stake in Clean Max SPV for Hybrid Energy Project

Nuvoco Vistas Corporation Ltd. has executed a Share Purchase Agreement to acquire a 26% stake in Clean Max Ilgohp Private Limited (SPV) from Clean Max Enviro Energy Solutions Limited. This acquisition is for setting up a 46.4 MW wind-solar hybrid renewable energy project in Bhikamkhore, Rajasthan. The project, comprising 20 MW wind and 26.4 MWdc solar capacity with a 2-MWh Battery Energy Storage System, is expected to generate approximately 100 million units of renewable electricity annually. This initiative aligns with Nuvoco's decarbonisation strategy, aiming to increase renewable energy usage in its cement operations, reduce fossil-fuel consumption, and avoid an estimated 1,25,485 tonnes of CO₂ emissions annually. The project will be developed by CleanMax, an Independent Power Producer, and power will be supplied to Nuvoco via the STU Open Access network.