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Refex Renewables Acquires 51% Stake in Vyzag Bio-Energy Fuel

Refex Renewables & Infrastructure Ltd has announced the completion of its acquisition of a 51% equity stake in Vyzag Bio-Energy Fuel through its subsidiary, Refex Sustainability Solutions Ltd (RSSL).

As per the regulatory filing, this acquisition makes Vyzag Bio-Energy Fuel a subsidiary of RSSL and a step-down subsidiary of Refex Renewables & Infrastructure, effective from December 30, 2024.

RSSL has acquired a 51.03% equity stake in Vyzag Bio-Energy Fuel, comprising both the purchase of shares from existing promoters and fresh equity infusion. The total cost of the acquisition is approximately Rs 2.90 crore.

Vyzag Bio operates a Compressed Bio-Gas (CBG) plant, which produces biogas from segregated municipal waste. The plant processes organic material derived from municipal solid waste, contributing significantly to green fuel production. With an impressive daily output capacity of 850 kg of CBG, it plays a vital role in the clean energy ecosystem.