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Refex and Winvision to Form JV to Assemble and Manufacture Wind Turbines

Refex Renewables and Infrastructure has partnered with Winvision Enterprises to form a joint venture to assemble and manufacture major components of wind turbines.

October 25, 2024. By Mrinmoy Dey

Chennai-based Refex Renewables and Infrastructure Ltd. (RRIL) has entered into a term sheet with Winvision Enterprises to form a joint venture (JV) focused on wind energy solutions. The JV will operate through Refex Green Energy Ltd. (RGEL), a subsidiary of RRIL.

RRIL will be a major shareholder with 75.5 percent equity and Winvision will be a JV partner with 24.5 equity stake in RGEL. Both RRIL and Winvision will infuse capital in RGEL to the tune of INR 139 crore, in one or more tranches. An initial investment of INR 30 crore has been earmarked.

“RGEL as JV entity shall enter into manufacturing and assemble all major components, including nacelle assembly including drive train, hub assembly, rotor blades, tubular towers, control equipment and operate and maintain wind turbine generators etc.,” the company informed in a regulatory filing.

It further stated that with India's wind market growing, this is an ideal time for RRIL to quickly enter the manufacturing and assembly of wind energy converters (WECs). This move is expected to boost RRIL's market presence and drive long-term growth in the renewable energy sector.

Tags:

Wind Power

Refex Renewables and Infrastructure

Winvision Enterprises

Refex Green Energy

Wind turbine generators

Nacelle assembly

Hub and nacelle

Rotor blades

Wind energy converters