Gujarat Alkalies and Chemicals has received approval for formation of a Special Purpose Vehicle (SPV) with Gujarat Mineral Development Corporation (GMDC) to undertake the implementation of 60 MW Renewable Energy (RE) project (or such other capacity as may be agreed). The board of directors of the company in their meeting held on August 8, 2025, have approved the same. 

SPV will be incorporated jointly by the company and GMDC to undertake the implementation of the RE project through Renewable Energy Developer (s). The initial equity contribution will be in proportion to 49% by the company and 51% by GMDC. Once the Renewable Energy Developer (s) is/are selected, equity holding pattern would change. The company shall continue to hold minimum 26% equity of the SPV. The Developer (s) would hold 51% (or such other % as may be agreed) and GMDC would hold the balance equity shares in SPV.

Gujarat Alkalies and Chemicals is a multi-product chemical manufacturing company, having various products in its basket and is one of the leading manufacturers of Caustic Soda Lye.