Refex Renewables Forms 150 MW Solar Power LLP With LC Infra Projects For MAHAGENCO Project

Refex Renewables & Infrastructure Limited has announced the incorporation of LC Infra Solar (150 MW) LLP, a new associate entity formed in partnership with LC Infra Projects Private Limited. This initiative was undertaken by Sherisha Rooftop Solar SPV Four Private Limited, a step-down subsidiary of the company. The new entity is designed to set up a 150 MW solar power project awarded by Maharashtra State Power Generation Co. Ltd. (MAHAGENCO).

The newly established LLP, registered on December 17, 2024, has an initial capital contribution of ₹10,000, with no recorded turnover yet. The acquisition process involved a cash contribution of ₹2,600 for a 26% stake in the LLP, making it a related party to the parent company due to its association with Sherisha Rooftop Solar SPV Four. The company clarified that no government or regulatory approvals were necessary for this incorporation, emphasizing that the promoter group’s involvement is limited to their shareholding interest in the parent company.

This development aligns with Refex Renewables’ focus on expanding its footprint in the renewable energy sector. LC Infra Solar (150 MW) LLP will serve as a solar power developer, aiming to contribute significantly to the company’s portfolio while supporting India’s renewable energy goals. The move demonstrates Refex Renewables’ commitment to sustainable energy and its strategy to leverage partnerships for large-scale infrastructure projects.

The company has requested that this information be recorded and shared across relevant platforms to ensure transparency with stakeholders. The disclosure aligns with Regulation 30 of the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements, showcasing the company’s adherence to compliance and governance standards.