Hindalco picks 26% stake in Cleanwin Energy SIX

Hindalco Industries will be investing in renewable energy generation company Cleanwin Energy SIX and will pick up a 26% stake in a cash deal worth Rs 71.5 lakh, the company announced in a stock exchange filing on Wednesday.
The proposed deal is part of the company's avenues in reducing the energy cost through open access to renewable energy generators. Cleanwin Energy was founded on December 1, 2021, with the intention of producing 5 MW of wind power.

According to the filing, after the transaction is completed, the aluminium business will own 26% of the renewable power company.

"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.