Seven Renewable Power will sell a 26% stake to Hindalco Industries

4 Sep 2023 , 11:55 AM

With Seven Renewable Power (SRPPL), Hindalco Industries has signed a Shareholder’s Agreement and Power Purchase Agreement in order to acquire a 26% share in SRPPL. 

The acquisition’s goal is to build and run a captive power generation facility that will provide 100 MW of continuous renewable energy to its Odisha-based smelter.

Aluminium and copper are two products that Hindalco Industries excels in. The company’s nationwide network of aluminium production facilities includes captive power plants, coal mines, bauxite mining, alumina refining, aluminium smelting, downstream rolling, extrusions, foils, and alloy wheel production.

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