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Gujarat Alkalies and Chemicals Limited (GACL) has executed a Shareholders Agreement with Aditya Birla Renewables Limited (ABRen) and Aditya Birla Renewables SPV 4 Limited. This agreement facilitates the establishment of a 62.7 MW Renewable Hybrid Power Project in Gujarat, aimed at securing 100% captive power usage for GACL. GACL will acquire a 26% equity stake in the SPV, while ABRen maintains 74%. The Power Consumption Agreement allows GACL to utilize renewable power generated by the SPV, with a contract duration of 25 years. This strategic tie-up positions GACL to enhance its energy sustainability, potentially improving operational efficiencies and reducing costs, which may drive long-term value for shareholders. Investors should monitor this development as it aligns with the growing emphasis on green technology and renewable energy initiatives.
All announcements from Gujarat Alkalies and Chemicals Limited