Chennai-based Refex Industries has partnered with Winvision Enterprises to launch a joint venture (JV) focused on wind energy solutions. Operating under Refex Green Energy Limited (RGEL), a Refex Industries subsidiary, the JV aims to establish RGEL as a comprehensive provider of wind energy solutions, including manufacturing and assembly of wind turbine generators and related components. Refex will hold a 75.5% stake in RGEL, with Winvision holding the remaining 24.5%.
The joint venture is expected to boost Refex’s position in the renewable energy market by diversifying its portfolio. RGEL will manufacture critical components, including nacelle assemblies, hub assemblies, and rotor blades, fabricate tubular towers, and produce control equipment. Additionally, RGEL will offer operations and maintenance services for wind turbines. The partners have committed a total investment of Rs 1.39 billion into REGL, with an initial Rs 300 million already been earmarked.
In October 2024, Refex Industries announced a preferential issue of shares worth Rs 9.28 billion, as part of its growth strategy. This issue included up to 8.65 million equity shares valued at Rs 4.05 billion for non-promoter category investors.
