Vardhman Textiles Limited has officially approved and executed agreements to acquire a 31.2% stake in Renew Green (MPR Four) Private Limited. This strategic move aims to facilitate the development of a 19 MW AC Wind-Solar Hybrid Power Plant in Ratlam, Madhya Pradesh. By securing this stake, the company ensures an exclusive supply of renewable energy for its operations, aligning with long-term captive power consumption requirements and sustainability goals.
Strategic Renewable Energy Partnership
On April 23, 2026, Vardhman Textiles Limited formalized its investment in Renew Green (MPR Four) Private Limited. The company will hold a 31.2% stake in the project, while Renew Green Energy Solutions Private Limited will retain the remaining 68.8%. This collaboration is structured as a captive power arrangement, ensuring that the electricity generated by the facility is supplied exclusively to Vardhman Textiles.
Project Specifications and Investment
The proposed Wind-Solar Hybrid Power Plant is designed with a capacity of 19 MW AC, comprising 26.4 MW of wind and 15 MW of solar capacity. The total capital requirement for the project is approximately Rs. 77.86 crore. Vardhman Textiles’ total financial contribution for its stake is set at Rs. 24.29 crore, which will be deployed in three distinct tranches based on the completion of key project milestones.
Operational Control and Governance
While Renew Green (MPR Four) Private Limited will be responsible for the establishment and operation of the plant, the agreement grants Vardhman Textiles specific rights over Reserved Matters, protecting its interests as a key stakeholder. Both parties will exercise voting rights in proportion to their respective shareholdings. The company confirmed that this project does not involve any related party transactions and will not require the appointment of a nominee director on the Board of the power producer.
Source: BSE
