Written by PPL Newsroom• October 6, 2026• 11:44 am• Business & Sustainability

Vardhman Textiles signs 27 MW wind-solar deal to power Himachal units

The textile maker will take a minimum 26% stake in a Serentica project, which it says will let it meet about 56% of its power needs from green sources.

Vardhman Textiles, one of India’s largest textile manufacturers, has signed agreements to receive 27 MW of wind-solar hybrid power for its facilities in Himachal Pradesh. The agreements, executed on 5 October 2026, are with Serentica Renewables and link the company to new generation plants in Karnataka and Rajasthan. The company says the deal will lift the share of green energy in its power mix to around 56%.

How the deal works

Vardhman has signed a share subscription-cum-shareholders’ agreement and a power delivery agreement. Under them, it will take a minimum 26% equity stake in Serentica Renewables India 32 Private Limited, a special purpose company set up to build and run the project, according to the company’s stock exchange filing as reported by several outlets.

The company has total capital of ₹160.96 crore. Vardhman will put in ₹41.85 crore in cash, in three tranches tied to project milestones, while Serentica Renewables India Private Limited holds up to 74% and contributes ₹119.11 crore.

The stake is not a financial bet alone. To qualify as a captive user under India’s electricity rules, a company must hold at least 26% in the project, and that is the purpose of this equity. Captive status is what allows the plant to supply power directly to a named industrial consumer.

What will be built

The project combines a 40 MW wind plant in Karnataka and a 40 MWp/30 MW solar plant in Rajasthan, connected to the interstate transmission system grid. Of this capacity, 27 MW is contracted to Vardhman. Reports differ on how the solar capacity is described: 40 MWp is the panel (direct-current) rating, while 30 MW is the grid-facing output.

Serentica says the project should reach a capacity utilisation factor of about 75%. It expects to supply 177 million units of round-the-clock renewable power to Vardhman’s Himachal Pradesh facilities. One unit is one kilowatt-hour. Mixing wind and solar helps because the two peak at different times, which reduces gaps in supply.

The power company has not yet begun commercial operations, so the electricity will flow only once the plants are built.

Vardhman’s wider clean-energy push

S K Jhamb, Vardhman’s Chief Sustainability Officer, said the agreement will let the company meet around 56% of its power needs from green energy. He added that it will cut its carbon footprint by 125,883 MT. The source does not say over what period this saving is measured.

The deal fits a longer plan. According to Vardhman’s FY2026 annual report, its cumulative solar capacity stands at 68.31 MW. It has set a target of 60% clean energy by FY2028, and it produced 337.34 million kWh of renewable energy in FY2026. Its planned capital programme of about ₹36.60 billion includes replacing coal-fired boilers with biomass and paddy-straw systems. It has also acquired a 19.5% stake in Sone Solar Energy One to procure 22.5 MW from a ground-mounted solar project in Punjab.

What this means for India

Textile mills are energy-intensive, and many rely on grid or coal-based power. This deal shows how a manufacturer can buy renewable power produced in other states: wind in Karnataka and solar in Rajasthan will serve units in Himachal Pradesh through the interstate grid. It also shows why captive rules matter, since the 26% equity requirement shapes how industrial buyers structure such contracts. Because the project is yet to be built, the emissions savings are projections and will depend on the plants being commissioned.

Serentica says it has crossed 3,400 MW of renewable capacity across several states, with solar, wind and storage projects serving energy-intensive industries.