Exide Industries Ltd has acquired a twenty-six percent equity stake in Clean Max Arcadia Private Ltd for ₹5.34 crore. The idea behind the investment in Clean Max Arcadia is to become a self-sufficient consumer of solar power, thereby promoting the adoption of renewable energy within its operations.
As reported by CNBC TV18, through this investment, Exide aims to reduce its power costs and improve operational efficiency at its factory located in Bawal, Haryana. Clean Max Arcadia specializes in generating and supplying solar power, with plans to establish a renewable energy-based captive generating plant with a solar capacity of 14.85 MWp in Haryana.
