Tata Communications has entered into a share purchase agreement with Clean Max Enviro Energy Solutions and its wholly owned subsidiary, Clean Max Yuhdul (SPV) to acquire 2,600 shares representing 26% stake in the SPV for an aggregate consideration of Rs 26,000/-. The objective of the transaction is to support the Company's sustainability goals by advancing its long-term carbon neutrality and net zero targets, while improving energy cost efficiency through increased use of renewable energy.
The transaction is intended to enhance the Company's renewable energy footprint at its offices in Karnataka through captive power consumption.