Shares of Gujarat Alkalies and Chemicals Limited climbed as much as 4.49% on 3 June, touching a day high of Rs 695.00 on BSE, after the company signed a hybrid renewable energy agreement with Clean Max Enviro Energy Solutions Limited covering 75.90 MW of wind capacity and 84.34 MWp of solar capacity.

The project has two parts. CleanMax will supply power from 75.90 MW of wind capacity and 84.34 MWp of solar capacity. 

All of the electricity generated will go directly to GACL’s manufacturing plants in Dahej and Vadodara under what is called a group captive structure, where a company sets up or sources dedicated power plants exclusively for its own use.

Chlor-alkali manufacturing, which is GACL’s core business, is one of the most electricity-hungry industries in the chemical sector. 

Caustic soda, the company’s main product, requires enormous amounts of power to produce. Locking in renewable energy at scale gives GACL greater control over long-term energy costs while cutting emissions.

The project will run across four CleanMax sites in Gujarat: Kalikanagar, Aji Dahisarda, Rajula and Ghuntu. 

It is being executed in two phases. Phase 1 covers 16.50 MW of wind and 21.701 MWp of solar capacity, and Phase 2 adds 59.40 MW of wind and 62.64 MWp of solar. 

Together, the project is expected to generate around 36.9 crore units of clean power every year and cut CO2 emissions by roughly 2,64,204 tonnes annually.

CleanMax Founder and MD Kuldeep Jain said in the press release that this is the single largest group captive deal in the company’s history.

GACL MD Avantika Singh said the partnership would ‘strengthen energy reliability while advancing our commitment to reducing the environmental impact of our manufacturing processes.’

GACL was established in 1973, is promoted by the Government of Gujarat and operates four manufacturing complexes, two each in Vadodara and Dahej.

At 14:49 on 3 June, GUJALKALI was trading up 1.18% at Rs 673.00 on BSE, well off the morning high of Rs 695.00. The stock’s 52-week high stands at Rs 815.00 and its 52-week low at Rs 410.00.

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