Vardhman Textiles buys 19.5% stake in solar energy project

Vardhman Textiles Limited has entered into a Share Subscription and Shareholders' Agreement and a Power Purchase Agreement to acquire a 19.5% equity stake in Sone Solar Energy One Private Limited. The agreements were approved and executed on November 25, 2025. This acquisition is part of a plan to develop a 30 MWac (42MWp) ground-mounted solar power generation facility in Punjab. The facility will operate as a "captive power plant" to supply power on a group captive basis to Vardhman Textiles Limited (22.5 MWac) and other eligible users.

The total cost for the 19.5% stake is ₹9.13 crore, contributing to the overall capital of Sone Solar Energy One Private Limited, which is ₹46.83 crore. Sone Solar Energy One Private Limited, incorporated on March 11, 2024, is a Special Purpose Vehicle engaged in developing and operating renewable energy projects. It has not yet commenced commercial production.

Vardhman Textiles Limited will make its equity contribution in three tranches, contingent on the completion of different project stages. The acquisition does not involve related party transactions. Vardhman Textiles Limited will not appoint a director to the Power Producer's board but may appoint a non-participative observer.