Vodafone Idea Signs PPA with Aditya Birla Renewables to Procure Solar Power from 4 MW Captive Plant
Vodafone Idea has signed a power purchase agreement and a share purchase agreement to acquire a 26 percent stake in Aditya Birla Renewables SPV 3’s upcoming 4 MW captive solar project in Maharashtra to boost its renewable energy intake.
August 16, 2025. By Mrinmoy Dey
The company will pick up about 26 percent stake in the special purpose vehicle – Aditya Birla Renewables SPV 3 Ltd. (ABRen SPV 3) at an investment of about INR 1.56 crore. “Cost of acquisition shall be INR 1.56 crore for acquisition of 15,60,000 equity shares of INR 10 each. The acquisition shall be in one or more tranches,” the company stated in a regulatory filing, further adding that the acquisition will be completed in approximately six months.
ABRen SPV 3 has been formed with the objective, inter alia, of establishing and operating electricity generating stations. It is currently in the process of setting up a 4 MW captive solar power plant in Maharashtra. “The primary business of ABRen SPV 3 is to generate and supply power through solar and wind energy,” it said.
The acquisition falls within purview of related party transactions. ABRen SPV 3 is a step-down subsidiary of Grasim Industries Ltd., the promoter of Vodafone Idea.
Vodafone Idea is striving to add renewable resources such as solar and wind energies at company-owned facilities based on regulatory and commercial feasibility. In FY 2023-24, more than 40 million kWh have been from renewable energy sources, the company stated in its Business Responsibility and Sustainability Report.
It further added that more than 1000 co-owned sites are exclusive solar energy solutions, in addition to solar-based generation at over 400 tower co-owned sites. The company has also increase renewable energy intake by installing solar panels at three warehouses.
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