Board Meeting Details

The Board of Directors meeting was held on Thursday, July 30, 2026, commencing at 01:20 p.m. IST and concluding at 02:18 p.m. IST.

Key Approval Details

The Board approved the execution of definitive agreements with Serentica Renewable India 9 Private Limited (SRI9PL) for integration of a Battery Energy Storage System (BESS) with capacity of 150 MW Round-The-Clock (RTC) with 95% assured supply. This utilizes the existing 600 MW Solar Power Delivery Agreement (PDA).

Investment Details

  • Investment amount: ₹165 Crore
  • Equity stake: 26% in the project SPV (SRI9PL)
  • Investment purpose: Compliance with group captive provisions under applicable regulations
  • Funding structure: 70:30 debt to equity basis
  • Investment terms: At par value as per shareholder's agreement

Project Structure and Timeline

  • Development model: Build-Own-Operate-Maintain (BOOM) basis
  • Power supply arrangement: 25 years from date of commissioning
  • Expected commissioning: Within 12 months of PDA signing
  • Power capacity: 150 MW during Non-Solar Hours (1800 to 0800 hours) and up to 250 MW during Solar Hours (0800 to 1800 hours)

Target Entity Details

  • Name: Serentica Renewables India 9 Pvt. Ltd. (SRI9PL)
  • Incorporation date: September 30, 2022
  • Business: Build, own & operate renewable energy projects in India
  • Revenue generation: Started from FY 2026-27
  • Other shareholders: Serentica Renewables India Pvt. Ltd. (fellow subsidiary) and/or its affiliates or any other party

Purpose and Rationale

  • Support Group's ESG initiatives and secure renewable energy during non-solar hours
  • Reduce dependence on higher-cost conventional power procured through power exchange
  • Ensure reliable renewable power supply during non-solar hours
  • Support Company's renewable energy transition, decarbonization roadmap, and regulatory compliance requirements

Regulatory Aspects

  • Related party transaction: Yes (26% investment by VAML in SRI9PL)
  • Tariff benchmarking: Independently benchmarked by third party with reference to prevailing market tariff for Renewable Energy Power
  • Government approvals: All requisite approvals as may be applicable will be sought
  • Regulatory framework: Captive regulations under Electricity Rules, 2005

Financial and Operational Impact

The investment enables conversion of existing solar power arrangement into RTC renewable power solution. The tariff has been independently benchmarked to market rates. Financial impact quantified as ₹165 Crore investment.

Additional Information

This disclosure is made in continuation to Letter No. VAML/Sec./SE/26-27/18 dated July 30, 2026 and references earlier filing by Vedanta Limited (Letter No. VEDL/Sec./SE/22‐23/192 dated January 23, 2023) regarding long term renewable power supply tie-up for Vedanta Group.