Textile manufacturer invests in wind-solar hybrid power to supply its production facilities
Vardhman Textiles has partnered with Serentica Renewables to develop a 40 MW wind and 40 MWp solar hybrid power project across Karnataka and Rajasthan, with 27 MW contracted capacity supplying the company's operations in Himachal Pradesh. Vardhman will hold at least 26 percent equity in the project SPV through Rs 418.5 million investment, while Serentica contributes Rs 1,191.1 million for up to 74 percent ownership. The agreement combines power delivery and shareholders' arrangements to ensure stable renewable energy supply for the textile manufacturer's facilities.
Vardhman Textiles is securing long-term renewable energy supply through a structured partnership that splits ownership and operational responsibilities. The textile manufacturer will invest approximately 419 million rupees to acquire a controlling stake in the power generation entity, while its partner contributes over 1.19 billion rupees. This arrangement allows Vardhman to guarantee stable power access for its production operations while maintaining significant financial interest in the project's success.
The hybrid facility combines wind generation from Karnataka with solar capacity from Rajasthan, leveraging geographic advantages across these resource-rich regions. However, the 27 MW contracted delivery to Himachal Pradesh represents only a portion of the 70 MW total capacity being developed, suggesting additional power may be marketed to other buyers or grid operators, potentially generating revenue streams beyond Vardhman's direct consumption needs.
This investment may signal growing momentum among Indian manufacturers to reduce energy costs and grid dependency through renewable power ownership. Such arrangements could encourage other industrial consumers to pursue similar captive generation projects, potentially accelerating India's renewable capacity additions while supporting corporate sustainability commitments. The model distributes financial risk between industrial users and renewable developers, which may attract further private capital into clean energy infrastructure in sectors traditionally reliant on conventional power sources.