RDB Infrastructure and Power to Build Solar Cell Factory in India

en.Wedoany.com Reported - RDB Infrastructure and Power, in collaboration with Maxim Industries, Samvik Power, Shank Investment, and other partners, has signed a shareholders' agreement to establish a solar cell manufacturing plant in Chhattisgarh, India. This marks the company's substantive entry into the renewable energy sector.

According to the terms of the agreement, RDB Infrastructure currently holds a 29% stake in Maxim Industries, with the option to increase its shareholding by an additional 42.50 percentage points upon achieving specific performance milestones. Samvik Power and Shank Investment are participating as major shareholders in this joint venture. The core objective of the joint venture is to develop and operate solar cell manufacturing facilities in Chhattisgarh, supporting the continued growth of India's clean energy manufacturing ecosystem. Regarding governance structure, the agreement stipulates that RDB Infrastructure has the right to appoint the same number of directors as Shank Investment.

Through this collaboration, RDB Infrastructure can strengthen its influence in the renewable energy value chain, while helping to enhance India's local solar manufacturing capabilities and advancing the country's transition to sustainable energy solutions.