Vodafone Idea Limited has recently informed exchanges that the company acquired a 26% equity stake in Sangli Wind Energy Private Limited (SWEPL) for a total consideration of ₹31.2 lakh. This investment, made through a cash transaction, marks a strategic step by Vodafone Idea to meet regulatory requirements for captive power consumption under Indian electricity laws.
SWEPL, incorporated on August 28, 2024, is a special purpose vehicle set up to develop, own, and operate a wind-based Captive Power Plant located in Sangli, Maharashtra. The company currently has no turnover and holds a paid-up share capital of ₹88.8 lakh, divided into 8.88 lakh equity shares of ₹10 each. The acquisition involved the purchase of 3.12 lakh equity shares, giving Vodafone Idea a 26% ownership in SWEPL.
This move aligns with Vodafone Idea’s broader strategy of procuring cost-effective renewable energy and supporting sustainability goals. The acquisition does not constitute a related party transaction and does not require any regulatory approvals. With this stake, SWEPL is now classified as an associate company of Vodafone Idea Limited.
