Grasim’s board approves 26% equity stake in AMPIN Energy C&I Three and AMPIN Energy C&I

This investment is to meet the green energy needs; optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws

The Board of Directors of Grasim Industries Limited has approved the acquisition of 26% equity stake in AMPIN Energy C&I Three Private Limited and AMPIN Energy C&I One Private Limited, a Special Purpose Vehicles (SPVs) for the purpose of generation and transmission of renewable energy to Chamarajanagar, Karnataka and Cheyyar, Tamil Nadu, company’s paint plants respectively.

The SPV has been created for developing a captive solar power generation facility having a capacity of 3 MWp (DC) at Chamarajanagar plants of the company.  Another SPV is for developing a captive solar power generation facility having a capacity of 3 MWp (DC) at Cheyyar plant of the company.

This investment is to meet the green energy needs; optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws.