Refex Green Power Limited, a wholly-owned subsidiary of the Company, has won a tender from Madurai City Municipal Corporation for Establishment of 250 TPD municipal corporation waste-based ....
Awaiting price reaction for this filing.
Refex Green Power Limited, a wholly-owned subsidiary of Refex Renewables & Infrastructure, has won a tender from Madurai City Municipal Corporation to set up a 250 tonne-per-day municipal solid waste-based Bio-CNG plant at Avaniyapuram village in Madurai. The project will run on a Design-Build-Finance-Operate-Transfer (DBFOT) basis under a Public-Private Partnership (PPP) model for 20 years, as part of the Swachh Bharat Mission Urban 2.0. The estimated project cost is ₹78.54 crore, with commissioning targeted within 19 months of signing the concession agreement, which must be executed within 30 days of the Letter of Acceptance dated April 5, 2025.
This is a meaningful new order for the subsidiary that strengthens Refex's waste-to-energy portfolio and provides long-term revenue visibility over 20 years. The order is from a government body, which adds some comfort on payment reliability, though execution risk and project cost overruns remain key things for investors to watch.