Ahmedabad-based chemicals manufacturer Meghmani Organics has signed an agreement with Pro-Zeal Green Power Fifteen, a special purpose vehicle (SPV) of Prozeal Green Power, to procure 2.2 MW of wind-solar hybrid power as a captive consumer.

Meghmani will invest ₹36.3 million (₹401,928.85) to acquire a 26% stake in Pro-Zeal Green Power Fifteen.

This transaction is expected to be completed within six to eight months.

Meghmani stated that it will source the hybrid renewable energy to meet its growing energy demand and its sustainability goals.

In its 2024-2025 annual report, the company said it aims to implement 4.5 MW of wind-solar hybrid projects and plans to source over 50% of its energy needs from clean sources.

As of March 2025, renewable power made up 38.9% of Meghmani’s energy utilization.

Meghmani Organics has installed four windmills to generate 2.1 MW of power each for captive consumption. The wind projects helped it save ₹129.6 million (~$1.43 million) in energy bills.

The company saved ₹7.6 million (~$84,050.62) in electricity expenses as of March 2025 by utilizing solar energy. It also saved ₹30 million (~$332,041) on energy bills by consuming power from wind-solar hybrid projects.

Businesses in the commercial and industrial (C&I) sector, including chemical manufacturers, are increasingly augmenting their power procurement from renewable sources to reduce reliance on expensive grid power and become more sustainable.

In November 2025, another chemical products manufacturer, BASF India, said it will procure 28,860 MWh of renewable power from a 12.21 MW hybrid wind-solar captive project to be developed jointly with Clean Max Amalfi, a special purpose vehicle of CleanMax, in Jamnagar district, Gujarat. The project will comprise 6.6 MVA of wind and 5.61 MWp of solar capacity. The project is expected to be operational in 2026.

Mercom India has been hosting multi-city C&I Clean Energy Meet series, bringing together large power consumers and clean-energy providers to share practical insights on adopting solar and other renewable solutions, lowering energy costs, exploring financing options, and helping businesses transition to reliable, cost-effective clean power. The next event will be held in Coimbatore, Tamil Nadu, on February 5, 2026.