Clariant Chemicals (India) to acquire up to 26% stake in SPV for captive solar power

Clariant Chemicals (India) announced that in order to comply with the regulatory requirement for being a 'captive user' under Indian Electricity laws, the Board of Directors, at their meeting held on 30 November 2022, approved the execution of Share Subscription and Shareholder's Agreement along with the Captive Power Agreement with First Energy to subscribe up to 26% stake in First Energy 2, Special Purpose Vehicle (SPV), for setting up Captive Solar Power Plant at Solapur District, Maharashtra to source a portion of the Company's captive power requirements for its factory at Roha, Maharashtra.