Grasim Industries agreed to acquire a 26% stake in Clean Max Decimus, a special purpose vehicle for the generation and transmission of renewable energy, for Rs. 94.50 lakh.

The SPV is for developing a captive solar power generation facility with a capacity of 2.70 megawatt peak at Sirsa n Haryana to provide the same to Panipat plant of the company. SPV has not commenced its operations.

The transaction is expected to be completed within 90 days.