Refex, LC Infra Collaborate For 150 MW MAHAGENCO Solar Project

Tamil Nadu-based Refex Renewables & Infrastructure Limited recently incorporated LC Infra Solar LLP as its new step-down subsidiary. The new entity is designed to build a 150 MW solar power project. Maharashtra State Power Generation Co. Ltd. (MAHAGENCO) awarded this project to Refex.

To develop this project, the company established the subsidiary through an initiative with Sherisha Rooftop Solar SPV Four Private Limited, another step-down subsidiary, in partnership with LC Infra Projects Private Limited. LC Infra Solar (150 MW) LLP has become an associate entity of Sherisha Rooftop Solar SPV Four Private Limited (SPV Four).

The newly established subsidiary was registered on December 17, 2024, with an initial capital contribution of ₹10,000 and no recorded turnover to date. The acquisition process involved a cash contribution of ₹2,600 for a 26% stake in the LLP. Thus,  making it a related party to the parent company due to its association with Sherisha Rooftop Solar SPV Four. The company clarified that no government or regulatory approvals were required for this incorporation and emphasized that the promoter group’s involvement is limited to their shareholding interest in the parent company.

This development aligns with Refex Renewables’ focus on expanding its footprint in the renewable energy sector. LC Infra Solar (150 MW) LLP will serve as a solar power developer, aiming to contribute significantly to the company’s portfolio while supporting India’s renewable energy goals. The move demonstrates Refex Renewables’ commitment to sustainable energy and its strategy to leverage partnerships for large-scale infrastructure projects.

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