Refex Green sets up three CBG SPVs for waste-to-gas projects

Refex Green Power Limited, a wholly owned subsidiary of Refex Industries Limited, has incorporated three new step-down subsidiaries to develop municipal solid waste-based bio-compressed natural gas (CBG) plants.

The new entities are Refex CBG SPV Limited, Refex CBG SPV (Salem) Limited, and Refex CBG SPV (Madurai) Limited. Each of them has been established with a paid-up equity share capital of Rs 1 million.

These special purpose vehicles (SPVs) will operate under the public-private partnership (PPP) model on a design, build, finance, operate and transfer (DBFOT) basis for a concession period of 20 years. Refex Green Power will hold a 74 per cent equity stake in each SPV, while the remaining 26 per cent will be owned by Spectrum Renewable Energy Private Limited.

The projects mark a step forward in the company’s focus on urban waste management and clean fuel generation using compressed biogas.