Refex Renewables Completes Acquisition of 91.43% Stake in Spectrum Renewable Energy
Refex Renewables & Infrastructure Ltd., a kelex group company, announced the completion of the acquisition of a 91.43% stake in Spectrum Renewable Energy Private Limited (SREPL) during fiscal year 2026. The acquisition was carried out by Refex Sustainability Solutions Limited (RSSL), a wholly-owned subsidiary of Refex Renewables.The acquisition occurred in stages, with RSSL acquiring 26.07% on August 5, 2025, an additional 45.98% on August 8, 2025, and a final 19.38% stake on March 30, 2026. The transaction, effective from February 11, 2025, follows a Share Purchase Agreement initially announced on January 28, 2025. RSSL intends to acquire the remaining 8.57% equity stake in the future, subject to compliance with the existing agreement.
SREPL operates a business generating Compressed Bio-Gas (CBG) and organic manure from press-mud and other biodegradable wastes at Warananagar, Kolhapur. Details of the acquisition were previously disclosed on February 12, 2025.
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