Nuvoco Vistas Shares Rise as Company Partners With CleanMax for Rajasthan Renewable Project

Nuvoco Vistas Corp shares moved higher on Tuesday after the cement manufacturer announced a partnership with Clean Max Enviro Energy Solutions for a hybrid renewable energy project in Rajasthan. The company has executed a share purchase agreement and other definitive agreements to acquire a 26% stake in Clean Max Ilgohp Pvt Ltd, the special purpose vehicle for the project.

The renewable energy facility will be developed at Bhikamkhore in Rajasthan and is intended to support Nuvoco's cement operations with cleaner electricity. The company said the project will increase the proportion of renewable energy in its power consumption while lowering dependence on fossil fuels.

Nuvoco Vistas shares closed the session on 29 September 2026, 1.28% higher at ₹330 apiece on the National Stock Exchange (NSE) following the announcement.

Project To Combine Wind, Solar And Battery Storage

The project will have a total capacity of 46.4 MW, comprising wind and solar generation along with battery storage.

CleanMax, an independent power producer, will develop the facility. Electricity generated by the project will be supplied to Nuvoco through the State Transmission Utility Open Access network.

Once operational, the facility is expected to generate approximately 100 million units of renewable electricity annually.

Project Targets Lower Emissions

The renewable power arrangement is expected to help Nuvoco reduce emissions associated with its manufacturing operations. According to the company, the project could avoid around 1,25,485 tonnes of CO2 emissions each year across Scope 1 and Scope 2 emissions.

The initiative forms part of Nuvoco's broader efforts to lower the carbon intensity of its manufacturing operations. These efforts include:

• Renewable energy adoption

• Waste Heat Recovery Systems

• Energy-efficiency measures

• Greater use of alternative fuels

Renewable Energy Push Under DIRE Agenda

Nuvoco said the project also supports its DIRE (Digitalisation, Innovation and Renewables) agenda. The framework covers climate action and renewable energy transition, alongside initiatives focused on water stewardship, circularity and biodiversity conservation across its manufacturing operations.

The Rajasthan project therefore adds a dedicated renewable power source to Nuvoco's ongoing efforts to shift its energy mix and reduce the environmental impact of cement production.

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