TCPL Packaging invests in solar SPV, expands subsidiary operations to boost sustainability

INDIA – TCPL Packaging Limited has acquired a 26% equity stake in Clean Max Hana Private Limited as part of a strategic move to support its renewable energy transition and secure stable power supply for its manufacturing operations.

The investment, valued at INR 1.09 crore (US$119,900), was completed through a Share Purchase Agreement.

Clean Max Hana has been established as a special purpose vehicle (SPV) to develop a 3.05 MWp captive solar photovoltaic (PV) power project in Uttarakhand.

According to the company’s disclosure, the project will help TCPL Packaging meet its green energy requirements while optimizing long-term electricity costs and complying with India’s captive power consumption regulations.

Clean Max Hana was incorporated on June 18, 2025, specifically to develop the solar project. The company confirmed that the transaction does not qualify as a related-party deal and does not require regulatory approvals.

The move reflects a broader trend among packaging manufacturers to invest in renewable energy infrastructure to reduce operational emissions and shield production from rising energy costs.

Strategic investments across packaging operations

The renewable energy investment follows another round of capital injections made by TCPL Packaging in December 2025

 The company invested approximately ₹3.49 crore (US$383,623) in its wholly owned subsidiaries Creative Offset Printers Private Limited and Accura Technik Private Limited through rights issues.

The investments form part of TCPL’s strategy to expand its capabilities across specialized packaging and allied manufacturing segments while maintaining 100% ownership in both subsidiaries.

Creative Offset Printers, incorporated in July 2002, operates in a niche packaging segment supplying cartons and boxes primarily to mobile phone manufacturers.

With its registered office in New Delhi and a production facility in Greater Noida, the company is positioned to benefit from the rapid growth of India’s electronics manufacturing sector, driven by government-backed industrial initiatives.

TCPL said the additional capital will help the subsidiary expand capacity and capture increasing demand from handset makers and related electronics manufacturers.

Meanwhile, Accura Technik, established in October 2023, represents TCPL Packaging’s entry into the production of high-performance rotogravure cylinders and components used in flexible packaging printing.

The subsidiary operates from Mumbai with a manufacturing facility in Silvassa. The latest investment will support the development of advanced production capabilities, enabling the plant to meet TCPL’s internal gravure cylinder requirements while also supplying high-quality components to external packaging converters.

Industry analysts note that the combination of renewable energy adoption and vertical integration in packaging technologies is becoming increasingly important for converters seeking to improve sustainability, reduce operating costs, and strengthen supply chain resilience.

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