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Refex Industries gained more than 2% after the company bagged a major order worth ₹475 crore from a leading Independent Power Producer.
Refex Industries specialises in refrigerant gas trading, coal and ash management, and other clean energy cooling solutions.
The deets: the deal will be executed by the company’s wholly owned subsidiary called Venwind Refex Power. It involves design, procurement, manufacturing and supply of Wind Turbine Generators (WTGs) and tubular towers for wind projects in Gujarat.
Worth noting: the news comes two days after shares of the company had jumped 19% after the company announced a restructure to support their Green Mobility business.
Why this matters: India’s wind energy market size is slated to grow at 20.9% rate & reach installed capacity of 150 gigawatt by 2030. The order thus would help Refex Industries usher in the government’s commitment towards a greener future and help India transition towards cleaner energy alternatives smoothly.
