Hindalco to grab 26% stake in Cleanwin Energy SIX
On 29th June 2022, the world’s largest aluminium rolling company, Hindalco Industries made public that its board has delivered a green signal to invest INR 71.50 lakh in the equity share capital of Cleanwin Energy SIX.
The total cost of acquiring a 26 per cent stake in Cleanwin Energy SIX is INR 71,50,000. The company said that its initial equity contribution was made on 30th May 2022. According to the firm, it will continue to update details of the project at a later date.
According to Hindalco Industries, it is exploring options for reducing energy costs, among which is open access to renewable energy generators on a captive basis. It appears that this company intends to invest in Cleanwin Energy SIX, a wind generator.
Cleanwin Energy SIX was incorporated on 1st December 2021and registered for the generation of wind power of 5 megawatts (MW).
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