Lloyds Metals Expands Renewable Holdings, Approves $30-Million Guarantee

Lloyds Metals and Energy Ltd’s board has approved acquiring a minimum 26% stake each in Hexa Energy MH3 Pvt. Ltd. and Hexa Energy W2 Pvt. Ltd. The company will invest ₹100 million in Hexa Energy MH3, which focuses on wind energy generation and transmission, and ₹120 million in Hexa Energy W2, engaged in solar energy generation and transmission.

Additionally, the board approved extending a corporate guarantee of up to $30 million for a step-down subsidiary to secure bank credit facilities.

The company also cleared an investment of up to ₹270 million to raise its stake by 30% in HR Godavari Pvt. Ltd.—a joint venture with Hinduja Renewables Pvt. Ltd.—which focuses on captive power consumption.