Cube Bio-Energy Private Limted agreed to acquire Ecogreen Energy Private Limited from Zheneng Jinjiang Environment Holding Company Limited for INR 10 million .

Cube Bio-Energy Private Limted agreed to acquire Ecogreen Energy Private Limited from Zheneng Jinjiang Environment Holding Company Limited (SGX:BWM) for INR 10 million on June 1, 2024. A cash consideration of INR 10 million will be paid by Cube Bio-Energy Private Limted. As of December 31, 2023, Ecogreen Energy Private Limited reported total common equity of INR 0.22 million.

In accordance with the share transfer agreement, Cube Bio-Energy Private Limted has undertaken to replace a performance bond amounting to INR 75 million, which was provided as security for the performance of the relevant obligations under the power purchase agreement for the WTE project in Gurgaon, India.