Grasim Industries has announced the acquisition of a 26% equity stake in multiple Special Purpose Vehicles (SPVs) focused on renewable energy. These SPVs are being formed as captive users for renewable energy projects at Grasim’s Vilayat, Balabhadrapuram, and Ganjam plants. The acquisitions aim to optimize energy costs and meet regulatory requirements for captive power consumption, with an equity investment of up to ₹45 crore for the Vilayat plant.
Strategic Investments in Renewable Energy SPVs
Grasim Industries has approved the acquisition of a 26% equity stake in several Special Purpose Vehicles (SPVs). These SPVs are designed to function as captive users of renewable energy, directly supporting Grasim’s manufacturing operations.
Plant-Specific SPV Details
Vilayat Plant, Gujarat
For the Vilayat plant, Grasim is investing in an SPV formed with Prozeal Green Energy Limited, named Pro-Zeal Green Power Eighteen Private Limited. The equity investment could reach up to ₹45.00 crore. This SPV will support a captive wind-solar hybrid power generation facility with a capacity of around 50 MW. Completion is expected within 30 days.
Balabhadrapuram Plant, Andhra Pradesh
An SPV will be formed with Prozeal Green Energy Limited for the Balabhadrapuram plant, with an equity investment of up to ₹20.50 crore. The new SPV is yet to be incorporated.
Ganjam Plant, Odisha
For the Ganjam plant, an SPV will be formed with GMR Energy Limited, with an equity investment of up to ₹3.60 crore. This SPV is yet to be incorporated.
Meeting Timeline
The board meeting to approve these acquisitions commenced at 12:00 noon (IST) and concluded at 01:45 p.m. (IST) on November 5, 2025.
Source: BSE
