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Chemplast Sanmar's wholly owned subsidiary, Chemplast Cuddalore Vinyls, has entered a Power Purchase Agreement with JSW Green Energy Nine Limited to acquire an 18.46% stake, while CCVL will secure 7.81%. This Special Purpose Vehicle (SPV) is focused on establishing renewable power plants in Tamil Nadu, specializing in 64.9 MW AC solar and 20 MW wind capacity. By sourcing green energy from the SPV under the Group Captive Power Scheme, both Chemplast and CCVL anticipate significant reductions in energy costs. The acquisition involves a total consideration of Rs. 30.43 Crores, segmented as Rs. 21.38 Crores for Chemplast and Rs. 9.05 Crores for CCVL, with completion expected within statutory limits. This strategic step towards green energy positions Chemplast favorably in aligning with sustainability goals while potentially enhancing their operational efficiency. Investors should watch this development closely for its positive long-term implications on energy costs and environmental impact.