Refex Sustainable Solutions Private Limited (RSSPL), a wholly-owned subsidiary of Refex Renewables & Infrastructure Limited, has acquired a controlling 51.02 per cent stake in Vyzag Bio-Energy Fuel Private Limited. The deal involves purchasing shares from existing promoters and fresh equity infusion, totalling approximately ₹2.9 crore.
The shares of Refex Sustainable Solutions Private Limited were trading at ₹610, up by ₹18.40 or 3.11 per cent, on the BSE at 2.20 pm.
Vyzag Bio operates a compressed bio-gas (CBG) plant in Visakhapatnam, producing 850 kg of CBG daily from municipal solid waste. The acquisition, expected to be completed by September 30, marks Refex’s expansion into the CBG business.
The move aligns with Refex’s goal of diversifying its renewable energy portfolio and reducing carbon footprint. Vyzag Bio’s existing plant has a 30 tonnes per day (TPD) waste treatment capacity, with plans to expand to 100 TPD.
