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Birla Corporation Acquires 6.04% Stake in CGE II Hybrid Energy to Power Rajasthan Plant
May 22, 2025
Birla Corporation Ltd. has completed the acquisition of a 6.04% equity stake in CGE II Hybrid Energy Pvt. Ltd. for Rs5.71 crore, marking a significant step in its sustainability strategy. The acquisition, first announced on March 7, 2025, was formalized through a Share Purchase Agreement (SPA) and a Power Purchase Agreement (PPA), enabling Birla Corporation to source up to 6 MW of hybrid wind-solar power for its Chanderia cement plant in Rajasthan under the captive power consumer model.
The transaction, executed as a cash deal with shares acquired at a face value of Rs10 each, aligns with Birla Corporation’s commitment to transitioning towards renewable energy while enhancing operational efficiency. With all formalities now completed, the company underscores its dedication to reducing reliance on conventional energy and bolstering its clean energy footprint. This move complements the broader industry trend of integrating hybrid renewable power solutions for industrial decarbonisation.