RSWM Partners With Adani Energy Solutions To Source 70% Of Power From Renewables

Textile giant RSWM Ltd. has signed an agreement with Adani Energy Solutions Ltd. to source 60 MW of renewable energy for its manufacturing units across Rajasthan.

With an investment of Rs 60 crore under the Group Captive Scheme, the partnership will supply over 31 crore units of green power annually, boosting RSWM's renewable energy share from 33% to 70%. AESL will supply 60 MW of green energy to RSWM's multiple plant locations

AESL will manage the entire green power value chain for the additional power requirement of RSWM Ltd.

Kandarp Patel, chief executive officer of Adani Energy Solutions Ltd, said that “with an equity investment of Rs 60 crores, it's a milestone in our sustainability journey, aligning with global clean energy benchmarks and emphasising our commitment towards the noble cause."

"By sourcing 70% of our total energy requirement from renewable sources— well above the national average of India's clean energy mix i.e. 31% - RSWM continues to set industry benchmarks in responsible energy transition," Riju Jhunjhunwala, CEO of RSWM, said.

AESL's C&I vertical serves bulk electricity users with customised energy solutions. AESL helps businesses across sectors meet both operational and sustainability needs. The company is targeting a C&I portfolio of 7,000 MW over the next five years.

AESL, part of the Adani portfolio, is a multidimensional organisation with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions.

AESL is the country's largest private transmission company, with a presence across 16 states of India and a cumulative transmission network of 26,705 ckm and 97,236 MVA transformation capacity.

In its distribution business, AESL serves more than 12 million consumers in metropolitan Mumbai and the industrial hub of Mundra SEZ. AESL is ramping up its smart metering business and is on course to become India's leading smart metering integrator with an order book of over 22.8 million meters.

RSWM, the flagship company of LNJ Bhilwara Group, is one of the leading manufacturers and exporters of synthetic, cotton and blended yarns, melange yarns, knitted & denim fabric in India.