Aditya Birla Group’s flagship company, Grasim Industries has formed a limited liability partnership agreement for a capital of Rs 73 crore with Cleanmax Enviro Energy Solutions to establish and operate 32.4 megawatt wind power plant in the State of Karnataka.
Total Capital of the LLP will be Rs. 73.42 crore which will be contributed by Grasim as Rs.19.09 crore (26 per cent) and generator partner, Cleanmax as Rs. 54.33 crore (74 per cent) in phases.
Indicating that Cleanmax has around 74 per cent share in the LLP and remaining will go to the other partner.
As per the agreement the power generated will be supplied exclusively to Grasim Industries under the captive rules and the Project will be operated by the generator partner, Cleanmax.
Cleanmax, a Mumbai-based renewable energy company, recently signed a joint venture with USA-based Cargill, to set up up a 15 MW wind-solar hybrid power plant in the state of Karnataka.
This is a Syndicate News-Feed; edited by Clean-Future Team