GACL shares soars 5% on partnering with CleanMax for sourcing hybrid renewable energy

At around 11:07 AM, the stock was trading 4.01% higher at ₹691.50 per equity share.

While the scrip has declined 14% over the month, it has surged 37% year to date.

The share reached a 52-week high of ₹815 per unit on May 6, 2026, and touched a year’s low of ₹409.15 on March 16, 2026.

In a regulatory filing, the company stated that the project will comprise 75.90 MW of wind capacity and 84.34 MWp of solar capacity, from which hybrid renewable energy will be supplied to GACL's Dahej and Vadodara units under the group captive structure.

Earlier, GACL had informed the exchanges that it was setting up a 75.9 MW renewable hybrid power project in a special purpose vehicle (SPV) mode by CleanMax for 100% captive consumption by the former.

The project is being implemented across four of Clean Max's renewable energy sites in Gujarat, specifically in Kalikanagar, Aji Dahisarda, Rajula and Ghuntu.

Furthermore, together, this project is expected to generate about 36.9 crore units of clean power annually.

The project is being executed in two phases across multiple renewable energy sites in Gujarat, with Phase 1 comprising 16.50 MW of wind capacity and 21.701 MWp of solar capacity. Phase 2 includes 59.40 MW of wind capacity and 62.64 MWp of solar capacity.

Both the phases, the filing stated, will be commissioned in accordance with the contractual timelines as agreed between CleanMax and GACL.

Once commissioned, it will supply hybrid renewable power to GACL's manufacturing units.

Commenting on the development, Avantika Singh, IAS, GACL, said: “Our partnership with CleanMax enables us to integrate hybrid renewable energy into our power mix, strengthening energy reliability while advancing our commitment to reducing the environmental impact of our manufacturing processes."

“Our partnership with GACL demonstrates how large manufacturing companies can transition to renewable energy at scale while maintaining operational reliability. This also marks the single largest group captive deal for Clean Max,” said Kuldeep Jain, Founder and Managing Director, Clean Max Enviro Energy Solutions Limited.

Gujarat Alkalies and Chemicals has a total market capitalisation of ₹5,071.76 crore as of June 3, 2026, according to data on the NSE.