Incorporation of 02 new subsidiaries as SPVs, namely, Refex CBG SPV (Coimbatore) Limited and Refex CBG SPV (Salem) Limited, by Refex Green Power Limited, a wholly-owned subsidiary of the Company.
Awaiting price reaction for this filing.
Refex Renewables & Infrastructure Ltd announced that its wholly-owned subsidiary Refex Green Power Limited (RGPL) has incorporated two new companies as Special Purpose Vehicles (SPVs) — Refex CBG SPV (Coimbatore) Limited and Refex CBG SPV (Salem) Limited. Each SPV was set up with a paid-up equity capital of ₹10 lakh, with RGPL holding 74% and consortium partner Spectrum Renewable Energy holding the remaining 26%. These SPVs have become step-down subsidiaries of Refex Renewables. The SPVs are incorporated to execute previously awarded municipal solid waste-based Bio-CNG projects: a 250 TPD plant at Coimbatore (estimated project cost ₹78.54 crore) and a 200 TPD plant at Salem (estimated project cost ₹65.07 crore), both under a 20-year PPP-DBFOT model. Both SPVs were incorporated on May 3, 2025, and no regulatory approvals are required.
This is a routine operational update confirming the formal incorporation of project execution vehicles for already-secured tenders, reinforcing Refex's expansion in the municipal solid waste-based Bio-CNG segment. Limited direct impact on stock price, but signals continued project execution momentum in the renewables business.