Vardhman Textiles Amends Wind-Solar Hybrid Plant Location, Enters into Amended Power Purchase Agreement

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Vardhman Textiles Ltd has made a strategic change in its renewable energy strategy, shifting the location of its 11.5 MW Wind-Solar Hybrid Power Plant in Madhya Pradesh. The company has also signed an amended Power Purchase Agreement (PPA) with ReNew Green (MPR One) Private Limited, solidifying its commitment to green energy solutions.

Plant Relocation

The Wind-Solar Hybrid Power Plant will henceforth be established at a new site in Madhya Pradesh, optimizing energy production and dispatch.
The decision is according to regulatory clearances and operational efficiency objectives.

Amended Power Purchase Agreement (PPA):

Vardhman Textiles has executed a modified PPA with ReNew Green (MPR One) Private Limited, which will provide long-term energy procurement security.
The agreement reinforces Vardhman's focus on green energy, with a steady power supply to its business.

Strategic Alliance with ReNew Green:

Vardhman Textiles has a 31.2% holding in ReNew Green (MPR One) Private Limited, underlining its commitment to renewable energy.
The alliance is designed to increase sustainability and lower carbon footprint.

Market Influence:

The announcement is likely to increase investor confidence, highlighting Vardhman's aggressive drive towards clean energy adoption.
Analysts forecast long-term cost reductions and operational efficiencies for the company.

Summary

Vardhman Textiles Ltd has shifted its Wind-Solar Hybrid Power Plant in Madhya Pradesh, maximizing energy production and transmission. The firm has also implemented a revised Power Purchase Agreement (PPA) with ReNew Green (MPR One) Private Limited, demonstrating its dedication to eco-friendly energy solutions. The relocation is anticipated to maximize operational efficiency, minimize carbon footprint, and enhance investor confidence.

Sources: Vardhman Textiles Official Announcement,Textile Excellence,Indian Textile Magazine

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