Nandan Denim buys stake in renewable SPV to cut power costs

Nandan Denim Limited ( (IN:NDL) ) has provided an update.

Nandan Denim Limited has approved an agreement to acquire a 6.1% equity stake in Opera Vayu (Narmada) Private Limited, a special purpose vehicle in the wind and solar power sector, for about ₹4 crore. The SPV, incorporated in 2022 with a current paid-up capital of ₹65.93 crore, operates a group captive renewable energy power plant with wind and solar capacity.

Through this acquisition under the group captive power route, Nandan Denim will secure 4.3 MW of power from a 23.1 MW wind and 25 MW DC solar project to supply its Bareja plant. The move is aimed at increasing renewable power sourcing and reducing power costs, indicating a strategic shift toward cleaner, cost-efficient energy that could improve margins and support long-term operational sustainability.

More about Nandan Denim Limited

Nandan Denim Limited is a Gujarat-based textile manufacturer focused on denim fabrics and related products, serving domestic and export markets from its manufacturing facilities near Ahmedabad. The company operates within the broader apparel and textiles value chain, where energy costs are a significant factor in maintaining competitive production economics.

Average Trading Volume: 383,447

Technical Sentiment Signal: Sell

Current Market Cap: 3.76B INR

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