Refex Renewables & Infrastructure Limited has announced that its wholly owned subsidiary, Refex Green Power Limited, has secured an 80 MW wind power project from the Solar Energy Corporation of India Ltd. (SECI), a Government of India enterprise. The project is planned in Kurnool, Andhra Pradesh, and is expected to strengthen the company’s presence in India’s renewable energy sector.
Refex Green Power received the Letter of Award from SECI following a competitive bidding process conducted under a Request for Selection issued in April. Under the awarded project, SECI will enter into a Power Purchase Agreement (PPA) with Refex Green Power or a Special Purpose Vehicle established for the project.
The PPA will provide for the purchase of electricity generated by the wind project for a period of 25 years. The tariff has been fixed at ₹3.85 per kWh. The project is scheduled to achieve commissioning of its full contracted capacity within 24 months from the effective date of the PPA.
The 80 MW project adds to Refex Renewables’ growing portfolio of renewable energy assets and marks another step in its expansion into the wind power segment. Kurnool is emerging as an important renewable energy location in Andhra Pradesh due to its favourable conditions for wind and other clean energy projects.
Refex Renewables stated that neither its promoters nor promoter group companies have any interest in SECI, the government entity awarding the project, other than their direct or indirect shareholding in Refex Green Power. The company also clarified that the transaction does not qualify as a related party transaction.
The company made the disclosure to BSE Limited in accordance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations. The regulatory filing was signed by Vinay Aggarwal, Company Secretary and Compliance Officer.
The award comes at a time when India is accelerating the development of renewable energy capacity to support its long-term clean energy and decarbonisation objectives. Wind power is expected to remain an important component of this transition alongside solar and energy storage.
With the new 80 MW project, Refex Green Power will contribute additional renewable generation capacity to India’s power sector while establishing a long-term revenue arrangement through the 25-year power purchase agreement with SECI.
