Concord Biotech’s Strategic Investment in Renewable Energy

Concord Biotech Limited, a leading biotechnology firm headquartered in Gujarat, has recently made significant strides towards sustainability by investing in renewable energy. On 16th January 2025, the company announced its acquisition of a 26% equity stake in Clean Max Everglades Private Limited. This move, in line with its commitment to environmental responsibility, highlights Concord Biotech’s focus on reducing its carbon footprint and achieving long-term operational efficiency through renewable energy adoption.

Acquisition and Project Overview

The acquisition was executed through a Share Purchase Agreement between Concord Biotech, Clean Max Everglades Private Limited (CMEPL), and Clean Max Enviro Energy Solutions Private Limited. CMEPL is a special-purpose vehicle established for developing a captive power generation facility under the Group Captive Power policy. Concord Biotech’s investment involves the issuance of 26,000 equity shares, each priced at ₹10, representing 26% of CMEPL’s share capital.

The renewable energy project comprises a wind capacity of 6.6 MW and a solar capacity of 3.3 MWp DC, aimed at powering Concord’s manufacturing facility in Dholka, Gujarat. This investment is expected to be finalised within 90 days, with no governmental or regulatory approvals required for completion.

Environmental and Economic Impact

This strategic initiative addresses global environmental concerns by reducing greenhouse gas emissions. Renewable energy adoption aligns with Concord Biotech’s mission to combat climate change while complying with evolving environmental regulations.

From an economic perspective, the transition to renewable energy promises reduced energy costs, contributing to the company’s financial stability. Long-term savings and energy independence are key outcomes of this sustainable venture, enabling Concord Biotech to enhance operational efficiency while fostering growth.

Concord Biotech Share Performance

As of January 17, 2025, at 1:53 PM, the shares of Concord Biotech Ltd are trading at ₹2,185.75 per share, reflecting a marginal decline of 2.45% from its previous day’s closing price.

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