Mumbai, Feb. 28 -- The total investment of Rs 30.43 crore will be made in cash, with Chemplast Sanmar acquiring an 18.46% stake for Rs 21.38 crore and Chemplast Cuddalore Vinyls (CCVL) acquiring a 7.81% stake for Rs 9.05 crore.
The special purpose vehicle (SPV) will focus on developing 64.9 MW AC (92.80 MW peak) of solar power capacity and 20 MW of wind power.
The acquisition follows the signing of a power purchase agreement (PPA) with JSW Green Energy Nine, enabling Chemplast Sanmar and CCVL to source renewable energy under the group captive power scheme. This agreement aims to secure long-term access to green energy, reduce carbon emissions, and significantly lower energy costs.
The investment aligns with Chemplast Sanmar's sustainabil...