Refex Renewables & Infrastructure announced on Monday that its subsidiary, Refex Sustainability Solutions Ltd (RSSL), has successfully completed the acquisition of a 51% stake in Vyzag Bio-Energy Fuel. As a result of this acquisition, Vyzag Bio-Energy Fuel (Vyzag Bio) has officially become a subsidiary of RSSL and a step-down subsidiary of Refex Renewables & Infrastructure, effective from December 30, 2024. This strategic move marks a significant step forward for Refex Renewables & Infrastructure in expanding its footprint in the renewable energy sector.

RSSL, which is a wholly-owned subsidiary of Refex Renewables & Infrastructure, acquired a 51.03% equity stake in Vyzag Bio, which was achieved through a combination of purchasing shares from the existing promoters and infusing fresh equity capital into the company. The acquisition further solidifies RSSL’s position in the green energy market and complements its ongoing efforts to promote sustainable energy solutions. With this acquisition, RSSL gains control over Vyzag Bio, making it a key player in the growing bio-energy space, particularly in the production of Compressed Bio-Gas (CBG), which is increasingly being seen as a viable green alternative to traditional fossil fuels.

Vyzag Bio is engaged in the production of CBG, which is derived from segregated municipal waste. The company’s plant processes organic material sourced from municipal solid waste to generate CBG, a renewable and clean fuel. This process not only supports the reduction of waste but also contributes to reducing carbon emissions by promoting the use of green energy. The CBG plant operated by Vyzag Bio has a substantial production capacity, with the ability to produce 850 kg of CBG per day. This output positions Vyzag Bio as a significant contributor to India’s efforts to increase the availability of green fuel and reduce dependence on fossil fuels.

In addition to the strategic acquisition, Refex Renewables & Infrastructure disclosed the cost of the transaction, which amounted to approximately Rs 2.90 crore. This sum covers the purchase of the equity shares from the current promoters and the fresh capital infusion into Vyzag Bio, aimed at supporting the company’s growth and further development of its bio-energy capabilities. By acquiring a controlling stake in Vyzag Bio, RSSL not only gains access to an advanced bio-energy production facility but also strengthens its portfolio of sustainable energy projects.

This acquisition is part of Refex Renewables & Infrastructure’s broader strategy to expand its renewable energy portfolio and contribute to the transition towards a greener economy. The company has been actively exploring opportunities to invest in clean energy solutions, and Vyzag Bio’s bio-energy plant fits perfectly within this vision. The partnership will enable RSSL to leverage Vyzag Bio’s existing infrastructure, expertise, and market presence in the growing field of renewable energy production.

As the world continues to shift towards more sustainable energy sources, the role of companies like Refex Renewables & Infrastructure and Vyzag Bio becomes increasingly important in driving the transition to a low-carbon economy. This acquisition is expected to bolster Refex Renewables & Infrastructure’s efforts to make a meaningful impact on India’s renewable energy landscape, supporting the nation’s goals of reducing carbon emissions and promoting the use of green energy. The addition of Vyzag Bio to RSSL’s portfolio aligns with these objectives and further positions the company as a leader in the renewable energy sector.