INDIA —Vardhman Textiles Limited has entered into a Power Delivery Agreement with Serentica Renewables to supply green energy to its manufacturing facilities located in Himachal Pradesh. As part of the contractual structure, the textile manufacturer will acquire a minimum 26 percent equity stake in SRIPL 32, a special purpose vehicle established by Serentica. Established in 1965, Vardhman Textiles is one of India's largest vertically integrated textile manufacturing enterprises, operating extensive cotton spinning and fabric production facilities across the country.
Under the terms of the agreement, the power supply will be supported by a hybrid renewable infrastructure featuring a total installed capacity of 80 MW. The installation comprises a 40 MW wind capacity asset in Gadag, Karnataka, and a 40 MW solar energy facility in Fatehgarh, Rajasthan. Operating with an anticipated capacity utilisation factor of approximately 75 percent, the combined setup is scheduled to deliver 177 million units of continuous clean electricity to Vardhman's industrial sites.
This arrangement reflects a growing transition within energy-intensive commercial and industrial sectors toward high-availability renewable power sources. By securing firm dispatchable clean energy through wind-solar hybrid configurations, heavy industrial consumers can fulfill substantial operational energy demands while avoiding the intermittency typical of standalone solar or wind projects. The move allows Vardhman to substitute conventional grid power with clean energy to meet approximately 56 percent of its operational requirements, effectively reducing its greenhouse gas emissions by 125,883 metric tonnes.
For industrial manufacturers and corporate investors, the transaction highlights the strategic utility of captive power models and specialized equity participation in green energy projects. By taking an equity stake in special purpose vehicles, large-scale manufacturing enterprises can fulfill regulatory requirements for captive power generation, lock in long-term supply security, and mitigate electricity tariff volatility. Serentica Renewables, the decarbonisation platform backed by Vedanta Group and KKR, continues to expand its commercial and industrial portfolio, which currently exceeds 3,400 MW of renewable power projects under development and operation across India.
