Varun Beverages to Invest in Solar Power SPV for Captive Consumption in Rajasthan, Aims for Cost Savings and Sustainability
The investment aims to reduce operational costs and promote sustainability across multiple facilities, indicating a moderate positive impact on long-term efficiency and ESG profile, although the initial investment amount is small and the benefits will be realized over time.
The investment in a solar power SPV for captive consumption is positive as it is expected to reduce power costs for VBL's facilities and aligns with environmental sustainability goals.
* Varun Beverages Limited (VBL) announced that its Investment and Borrowing Committee approved an investment of up to 26% of the equity share capital of Jager Renewables Two Private Limited. * Jager Renewables Two Private Limited is a special purpose vehicle (SPV) incorporated on June 6, 2024, under the group captive model, to generate and supply solar power to consumers in Rajasthan. * VBL's objective for this investment is to obtain solar power for captive consumption at its facilities located in Kota, Alwar, Jaipur, Jodhpur, and Bhiwadi, in the state of Rajasthan. * This initiative is expected to reduce power costs at the said facilities and is environmentally friendly. * As per the Electricity Act, VBL, being a captive user, is required to make an investment in the Company. * The transaction involves a cash consideration, with VBL initially investing ₹26,000 for 2,600 equity shares of face value ₹10 each. * The completion of this transaction is expected on or before June 2, 2026. * The transaction is not a related party transaction.
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Varun Beverages Limited filed this with the NSE as a statutory disclosure, categorised under corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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