Orkla India, has entered into a partnership with CleanMax for the supply and generation of solar energy from a 6.6 MWp Solar Power Plant in Jagaluru, Karnataka. This agreement takes place through a 25-year power purchase agreement. This will enable all Karnataka-based Orkla factories to run completely on renewable energy.
The project takes place through a special purpose vehicle. CleanMax holds 74 per cent equity stake and Orkla India the remaining 26 per cent. CleanMax is required to manage the energy generation, operation, and maintenance of the solar plant. The solar plant is expected to generate 10 million kWh units annually, thus offsetting 7500 tonnes of carbon emissions.
