Hindalco Industries, the aluminum and copper manufacturing subsidiary of Aditya Birla Group, has entered into an agreement to acquire a 26% stake in Cleanwin Energy SIX’s 5 MW captive open access wind project.

Hindalco said it is exploring avenues to reduce its energy costs. One option is open access from renewable energy generators in captive mode. Considering this, the company intends to invest in wind power generator Cleanwin Energy SIX.

The 26% stake will be acquired for ₹7.15 million (~$90,578). The company said in a BSE filing that it contributed its initial equity on May 30, 2022.

Incorporated on December 1, 2021, Cleanwin Energy SIX has a wind power project of 5 MW.

Industries are consistently tracking energy sources that are green and lower cost. There is a growing interest in going green with many emerging business models. Renewable open access is gaining renewed attention lately.

Understanding the growing demand, the Ministry of Power recently issued the Green Energy Open Access Rules, which can catalyze the transition of commercial consumers to green energy. With the rising demand for renewables from the commercial and industrial (C&I) segment, the new policy will boost the open access market.

As per the new regulations, consumers will be eligible for green energy open access if they have a contracted demand or sanctioned load of 100 kW or more. For captive consumers, there will be no load limitation. The new rule is expected to help more businesses opt for renewables as the minimum load had to be 1 MW earlier.

Mercom is hosting events focused on creating awareness about renewable energy procurement by C&I entities. The first event in the C&I Clean Meet 2022 series was held in Bangalore. Industry experts discussed the benefits of renewable energy and how the C&I sector could utilize it for its expansive power needs. After an overwhelming response in Bengaluru, Mercom India plans to host more C&I events in Pune, Chennai, Coimbatore, Ahmedabad, and Noida.