We refer to our earlier communication dated February 6, 2025, wherein we informed you about the decision of the Company s Board of Directors to invest in a Solar Power Wheeling project, for the Company s Dharuhera and Gurugram manufacturing plants under the captive scheme.In this regard, we wish to inform you that the Company has completed the acquisition of 26% (Twenty Six percent) equity stake in Clean Max Karakoram Private Limited (Special Purpose Vehicle) from Clean Max Enviro Energy Solutions Limited (formerly known as Clean Max Enviro Energy Solutions Private Limited). Please refer to the intimation made by the Company in this regard.
HEROMOTOCO · price
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Hero MotoCorp has completed the purchase of a 26% equity stake in Clean Max Karakoram Private Limited, a Special Purpose Vehicle, from Clean Max Enviro Energy Solutions Limited. The SPV will set up a Solar Power Wheeling project under a captive scheme to supply renewable energy to Hero MotoCorp's Dharuhera and Gurugram manufacturing plants. This is a follow-up to the Board's decision communicated on February 6, 2025. The investment aligns with the company's sustainability and clean energy goals for its manufacturing operations.
This move supports Hero MotoCorp's transition to renewable energy for its manufacturing facilities, potentially reducing long-term power costs and carbon footprint. While financially small relative to the company's size, it reinforces the company's ESG commitment, which is generally viewed positively by investors.