Clariant Chemicals India to acquire up to 26Percentage stake in SPV for captive solar power

7 Dec 2022 , 01:05 AM

Clariant Chemicals India announced that in order to comply with the regulatory requirement for being a captive user under Indian Electricity laws the Board of Directors at their meeting held on 30 November 2022 approved the execution of Share Subscription and Shareholders Agreement along with the Captive Power Agreement with First Energy to subscribe up to 26Percentage stake in First Energy 2 Special Purpose Vehicle SPV for setting up Captive Solar Power Plant at Solapur District Maharashtra to source a portion of the Companys captive power requirements for its factory at Roha Maharashtra