Vardhman Textiles Signs Renewable Energy Agreements
Vardhman Textiles Ltd has executed two key agreements: a Share Subscription cum Shareholders’ Agreement with Serentica Renewables India Private Limited and Serentica Renewables India 32 Private Limited, and a Power Delivery Agreement with Serentica Renewables India 32 Private Limited. These agreements aim to develop a 40 MW wind plant in Karnataka and a 30 MW solar plant in Rajasthan, collectively supplying 27 MW of hybrid power to Vardhman's facilities in Himachal Pradesh. Vardhman Textiles will hold a minimum 26% equity stake in Serentica Renewables India 32 Private Limited, contributing ₹41.85 Crore out of a total project capital of ₹160.96 Crore. The Power Producer will operate the plant, while Vardhman will have rights over Reserved Matters.
Key Highlights
- Agreements signed for 40 MW wind and 30 MW solar captive power projects.
- Vardhman Textiles to hold minimum 26% equity in the project entity.
- Total project capital is ₹160.96 Crore, with Vardhman contributing ₹41.85 Crore.
- Project aims to supply 27 MW of hybrid power to company facilities.
Price Impact
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