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NUVOCO · price
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Nuvoco Vistas' Board approved investment of up to Rs. 26 crores for a 26% equity stake in Clean Max Ilghop Private Limited, a Special Purpose Vehicle set up by Clean Max Enviro Energy Solutions Limited. The investment will fund a hybrid renewable energy plant at Bhikamkhore District, Jodhpur, Rajasthan to power Nuvoco's Nimbol Cement Plant under a captive model on a Build-Own-Operate-Transfer (BOOT) basis. CleanMax is engaged in renewable energy power generation and was incorporated in October 2025 with nil turnover. The SPV will handle land acquisition, development, commissioning, and operations for 25 years with a 10-year lock-in. Post-acquisition, CleanMax will become a related party as an associate company. No regulatory approvals are required.
This investment supports Nuvoco's transition to renewable energy for its cement operations, reducing energy costs and carbon footprint. As the deal makes CleanMax a related party, minority shareholders should monitor terms and arm's length compliance.