Vodafone Idea has entered into a power purchase agreement (PPA) with Aditya Birla Renewables SPV 3 to procure power from an upcoming 4 MW captive solar power project in Maharashtra.

The company also inked a share purchase agreement to acquire 26% paid-up equity share capital by investing ₹15.6 million (~$177,969) in one or more tranches in the next six months.

Aditya Birla Renewables SPV 3 is a wholly owned subsidiary of Aditya Birla Renewables formed on November 21, 2024, to commission and operate wind and solar projects. It is currently setting up a captive solar project in Maharashtra.

Aditya Birla Renewables SPV 3 has an authorized share capital of ₹65 million (~$741,526) divided into 16,500,000 equity shares of ₹10 (~$0.11) each. It has a paid-up capital of ₹100,000 (~$1,140) divided into 10,000 equity shares of ₹10 (~$0.11) each.

The acquisition falls within the purview of related party transactions. The audit committee and board approval for the transaction are in place. The transaction is at arm’s length.

According to Vodafone Idea’s sustainability report, the company sourced over 40 million kWh from renewable energy in the financial year (FY) 2024. The report also noted that more than 1,000 co-owned sites operate on exclusive solar solutions, with solar-based generation also implemented at over 400 co-owned tower sites. Additionally, the company’s warehouse facilities have installed rooftop solar at three locations as part of their energy-saving measures.

Storage initiatives include the adoption of battery-operated material handling equipment to replace diesel units and implementing structured battery waste management, which handled 854.38 metric tons in FY 2024.

Mercom India hosts a multicity ‘C&I Clean Energy Meet’ series designed to provide commercial and industrial energy buyers with the knowledge and tools they need to adopt clean energy solutions and lower their power costs. The next Clean Energy Meet event will be held in Hyderabad on August 22, 2025.

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