Refex Solidifies Hold in Green Energy with Vyzag Bio Stakes

Refex Sustainability Solutions Ltd has acquired a 51% stake in Vyzag Bio-Energy Fuel, bringing it under the umbrella of Refex Renewables & Infrastructure. The acquisition fortifies Refex's investment in green energy through Vyzag Bio's bio-gas production from municipal waste.

Refex Renewables & Infrastructure announced on Monday that its subsidiary, Refex Sustainability Solutions Ltd (RSSL), has completed the acquisition of a majority stake in Vyzag Bio-Energy Fuel. This acquisition, which includes a 51 percent equity stake, positions Vyzag Bio as a significant subsidiary of RSSL and a step-down subsidiary of Refex.

The deal, finalized through a combination of purchase from existing promoters and new equity infusion, has pegged the acquisition cost at approximately Rs 2.90 crore. As per the regulatory filings, the transaction will be concluded on December 30, 2024.

Vyzag Bio-Energy Fuel operates a Compressed Bio-Gas (CBG) plant with a daily output capacity of 850 kg. This plant utilizes municipal solid waste to produce biogas, marking a significant advancement in sustainable and green fuel production.