Business News | Hindalco to Acquire 26 Pc Stake in Renewable Firm Cleanwin Energy SIX

New Delhi [India], June 29 (ANI): Aluminium major Hindalco Industries will invest in the renewable energy generation company Cleanwin Energy SIX -- in a cash deal -- worth Rs 71.5 lakh, the company said in a regulatory filing to the exchanges on Wednesday.

The proposed deal is part of the company's avenues in reducing the energy cost through open access to renewable energy generators.

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Incorporated on December 1, 2021, Cleanwin Energy was registered for the generation of wind power of 5 MW.

Post completion of the deal, the aluminium major will have a 26 per cent stake in the renewable generation company, the filing said.

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"Company has contributed its initial equity contribution on 30th May 2022. Further Company will continue to update the project details at a later stage," the filing said.

At 10.16 a.m., the shares of Hindalco Industries traded at Rs 341.65, down 0.6 per cent from Tuesday's closing. (ANI)

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