Vibgyor Energy Signs 22.50 MWp Solar Plus BESS PPA with Varun Beverages
Vibgyor Energy has signed a 22.5 MWp solar-plus-storage PPA in Rajasthan with Varun Beverages, set to power five of the latter’s bottling plants with clean energy and support peak load management.
September 13, 2025. By Mrinmoy Dey
Developed under a group captive model, the project will supply clean solar energy backed by integrated storage to VBL’s manufacturing facilities across Kota, Alwar, Jaipur, Jodhpur, and Bhiwadi. This hybrid solution will replace large majority of the factories’ power consumption with green energy and also supports peak load management, and delivers long-term cost savings compared to grid power.
“Once commissioned, the 22.50 MWp plant is expected to generate over 39 million kWh annually, offsetting approximately 32,000 tons of CO₂ emissions per year and saving more than 72 million litres of water annually — a major step toward VBL’s sustainability commitments,” stated Ishaan Gadhoke, Executive Director at Vibgyor Energy in a social media post.
As a part of the proposed transaction, VBL being the captive user, would initially be investing INR 26,000 to pick up 26 percent equity stake in the SPV, with further investments to be made in one or more tranches, the company stated in a regulatory filing. The transaction is expected to be completed by June 2, 2026.
This collaboration underscores Vibgyor Energy’s ability to design, finance, and deliver bankable renewable + storage solutions that empower industrial consumers to decarbonise at scale. For VBL, it represents another significant investment in energy security and sustainable growth across its operations in India.
Varun Beverages’ Annual Report 2024 shows that the company’s renewable energy intake increased by 3 percent YoY to 16 percent. The company aims to increase share of renewables in its energy mix to 30 percent by 2030.
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