Date: September 29, 2026
Strategic Actions
Nuvoco Vistas Corporation Limited has executed definitive agreements including Share Purchase Agreement, Shareholder Agreement, Energy Supply Agreement and other ancillary agreements with Clean Max Enviro Energy Solutions Limited for acquiring 26% of the share capital of Clean Max Ilgohp Private Limited (SPV). The acquisition is for the purpose of setting up a hybrid renewable energy supply plant at Bhikamkhore, Rajasthan. This follows the company's previous communication dated April 14, 2026 (Ref: Sec/08/2026-27).
Management Commentary
Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd.: "This marks an important step in advancing Nuvoco's journey towards more sustainable and resilient operations. Our collaboration with CleanMax will increase the share of renewable energy across our Rajasthan operations, strengthening our energy mix while improving long-term cost efficiency and reducing our dependence on conventional power sources."
Kuldeep Jain, Founder and Managing Director, CleanMax: "Cement plants run continuously, so the power behind them has to be dependable for decades, not years. We're seeing manufacturing industries view clean energy as an integral part of their core operations and long-term strategy. Our partnership with Nuvoco reflects that shift."
Company Background
Nuvoco Vistas Corporation Limited is a building materials company with total income of ₹11,362 crore in FY 2025-26. The company operates in three business segments: Cement, Ready-Mix Concrete (RMX), and Modern Building Materials (MBM). Nuvoco is on track to achieve a total cement capacity of 35 MMTPA through expansions including a new grinding mill at the Arasmeta Cement Plant and debottlenecking projects.
Clean Max Enviro Energy Solutions Limited (NSE: CLEANMAX | BSE: 544717) is India's largest pureplay Commercial & Industrial renewable energy company with more than 15 years of operations. The company has a contracted renewable energy portfolio of 6.0 GW as of June 30, 2026, and serves approximately 600 customers across technology, digital infrastructure, manufacturing, and industrial sectors.