BASF India signs agreement for hybrid captive renewable project in Gujarat

BASF India Limited has signed a share purchase agreement with Clean Max Enviro Energy Solutions Limited to source renewable power from a hybrid solar and wind project in Jamnagar, Gujarat. The arrangement follows the captive power generation model. The plan is to build a 12.21 MW hybrid project that will supply clean energy to BASF India’s manufacturing units in Dahej and Panoli.

The agreement covers the annual procurement of about 28860 MWh of renewable power with green attributes under the group captive route. The project, developed under Clean Max Amalfi Private Limited, will include 6.6 MVA of wind capacity and 5.61 MWp of solar capacity. It is expected to start operations in 2026.

BASF India has reported weaker financial results for the September quarter due to prevailing economic conditions. The company noted that its renewable energy investment is part of its long term plan to improve sustainability across its operations.