Gujarat Alkalies and Chemicals Limited (GACL), promoted by the Government of Gujarat, has entered into a strategic partnership with Aditya Birla Renewables Limited (ABRen) and its Special Purpose Vehicle (SPV), Aditya Birla Renewables SPV 4 Limited, to establish a 62.7 MW renewable hybrid power project. This initiative aims to supply 100% captive renewable power to GACL.
As per the agreement, GACL will acquire a 26% stake in the SPV, while ABRen will retain the remaining 74%. The power generated will cater entirely to GACL’s energy needs, marking a significant step towards sustainability. The project underscores a 25-year commitment to renewable energy, emphasizing the company’s dedication to reducing carbon footprints.
The agreement includes provisions for proportional shareholding maintenance, reserved matters requiring mutual consent, and GACL’s right to nominate a director to the SPV’s board. The renewable hybrid project aligns with GACL’s green technology goals, supporting both environmental stewardship and energy independence.
This partnership reflects a robust model of collaboration between public and private sectors, aimed at advancing renewable energy solutions in India. It also strengthens GACL’s position as a responsible industry leader, reinforcing its commitment to sustainability while ensuring energy security for its operations
