BASF India Acquires 26% Stake in Clean Max Amalfi for Renewable Power
Filing Summary
BASF India Limited has signed a Share Purchase Agreement to acquire a 26% equity stake in Clean Max Amalfi Private Limited. The transaction, valued at up to INR 65.93 million, involves the procurement of approximately 28,860 MWh of renewable power annually. This acquisition is part of BASF India’s strategy to utilize renewable energy for its manufacturing sites in Dahej and Panoli. The agreement was signed on November 11, 2025, with Clean Max Enviro Energy Solutions Limited. The transaction’s completion is subject to customary conditions and requisite approvals.
BASF India Limited has entered into a Share Purchase Agreement on November 11, 2025, to acquire a 26% equity stake in Clean Max Amalfi Private Limited. This acquisition is valued at an amount not exceeding INR 65.93 million. The agreement is with Clean Max Enviro Energy Solutions Limited, the developer of the Special Purpose Vehicle, Clean Max Amalfi.
The acquisition is aimed at procuring approximately 28,860 MWh of renewable power annually, which includes green attributes as applicable under law. This power will be utilized for BASF India’s manufacturing sites located in Dahej and Panoli. The procurement is structured under the Captive Power Generation Mechanism, in accordance with the renewable energy policy of the State of Gujarat and the Electricity Act 2003.
The transaction’s completion is contingent upon customary conditions precedent, including the receipt of requisite approvals. Following the Share Purchase Agreement, BASF India will also enter into a Shareholders Agreement, Energy Supply Agreement, and other ancillary agreements to facilitate the benefits available to captive users under the applicable laws.
Clean Max Enviro Energy Solutions Limited is involved in developing renewable energy projects, focusing on providing sustainable energy solutions. The company is known for its expertise in wind-solar hybrid projects, which aligns with BASF India’s renewable energy procurement strategy.
BASF India Limited is a subsidiary of BASF SE, a global leader in the chemical industry. The company focuses on providing innovative solutions across various sectors, including chemicals, plastics, performance products, and agricultural solutions. BASF India is committed to sustainability and enhancing its energy efficiency through strategic investments in renewable energy sources.