Vardhman Textiles Invests Rs 41.85 Cr in Serentica’s Renewable SPV

Vardhman Textiles has partnered with Serentica Renewables through two agreements to supply 27 MW of wind-solar hybrid power to its manufacturing units in Himachal Pradesh. Under the arrangement, Vardhman will act as the captive user, acquiring a 26 percent equity stake of Rs 41.85 crore in the special purpose vehicle (SPV), while Serentica Renewables India holds the remaining 74 percent stake as developer. Power will be generated via wind capacity in Karnataka and solar capacity in another state, advancing both companies' industrial decarbonization goals.

News by Rahul Yelligetti.