A renewable energy firm specialising in converting municipal waste into clean energy has secured contracts to establish bio-CNG plants across three major cities in a southern state. In this article we will explore the company’s latest ventures, including the creation of two subsidiaries under public-private partnerships worth Rs. 143.61 Cr, signalling a strategic expansion in sustainable waste-to-energy solutions.
Refex Renewables & Infrastructure Limited’s stock, with a market capitalisation of Rs. 334 crores, went up to Rs. 749.95 during intraday trading, up 4.4 percent from its previous closing price of Rs. 718. Furthermore, the stock has delivered returns of 42 percent over the past year.
Projects Details
Refex Green Power Limited (RGPL), a wholly-owned subsidiary of Refex Renewables & Infrastructure Limited, has incorporated two new special-purpose vehicles (SPVs) as its subsidiaries: Refex CBG SPV (Coimbatore) Limited and Refex CBG SPV (Salem) Limited. RGPL holds 74% equity in each SPV, with the remaining 26% held by consortium partner Spectrum Renewable Energy Private Limited (SREPL).
The Coimbatore SPV will establish a 250 TPD municipal solid waste-based bio-CNG plant under a public-private partnership (PPP) model on a Design, Build, Finance, Operate, and Transfer (DBFOT) basis for 20 years. The project cost is estimated at Rs. 78.54 crore.
The Salem SPV will develop a similar 200 TPD municipal solid waste-based bio-CNG plant at Salem under the same PPP model on a DBFOT basis for 20 years, with an estimated project cost of Rs. 65.07 crore.
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Revenue Breakup
In FY24, about 71% of revenue came from electricity sales, 6% each from solar systems, maintenance, and services, 3% each from manpower supply, other sources, and written-back liabilities, and 2% from interest income. Segment-wise, 87% was from commercial and industrial, 9% from rural, and 4% from other segments.
Product & Services offering
RR&IL (formerly SunEdison Infrastructure Ltd.), part of the Refex Group, is a leading Indian solar power developer and independent power producer (IPP) specialising in rooftop, ground-mounted, and farmer-led solar projects across 11 states.
The company focuses on expanding its solar portfolio by targeting 500 MW in government tenders and developing a 100 MW open access solar project in FY25. Alongside solar, RR&IL is entering the compressed biogas (CBG) sector, planning a CBG plant and exploring feedstock options like municipal waste and agricultural residues.
Written By Fazal Ul Vahab C H
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