In a significant move towards bolstering sustainability efforts, the Indian Energy Exchange (IEX) has announced its acquisition of a 10% stake in Enviro Enablers India Private Limited. This collaboration aligns perfectly with India’s ambitious net-zero commitments, as detailed in the official BSE filing by IEX.
Under the terms of the agreement, IEX has formalized a share subscription and shareholders’ agreement with Enviro Enablers India Private Limited (EEIPL), paving the way for the acquisition of a 10% stake in the company through compulsory convertible preference shares (CCPS).
The platform established through this strategic alliance aims to revolutionize waste management practices, encompassing crucial aspects such as segregation, processing, recycling, tracking, tracing, and valorization of waste fractions. Importantly, it also seeks to uplift informal waste pickers, a pivotal aspect highlighted by SN Goel, the Chairman and Managing Director of IEX.
SN Goel emphasized, “This platform will catalyze solutions for compliant waste management, including segregation, processing, recycling, tracking, tracing, and valorization of waste fractions, all while uplifting informal waste pickers.”
Commenting on this milestone partnership, Govindaswamy Mahesh Babu of EEIPL stated, “This strategic alliance sets the stage for a transformative journey towards sustainability and circularity within India’s energy landscape.”
The Indian Energy Exchange (IEX) is an electronic power trading platform located in India, operating under the regulation of the Central Electricity Regulatory Commission. IEX commenced its operations on June 27, 2008.
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