Vodafone Idea invests Rs 1.56 crore in renewable energy SPV

Vodafone Idea Limited (VIL) has acquired a 26% stake in Aditya Birla Renewables SPV 3 (ABRen SPV 3), a special purpose vehicle (SPV) established specifically to own and operate a captive power plant (CPP).

VIL will invest Rs 1.56 crore in this venture over the next six months, potentially through one or more instalments. The transaction does not require approval from the government or any regulatory authority. Currently, ABRen SPV 3 is a wholly owned subsidiary of the Aditya Birla Group (ABG), one of Vodafone Idea’s promoters.

In its press release, Vodafone Idea stated, “The Company has entered into a Power Purchase Agreement and a Share Purchase Agreement for the acquisition of not less than 26% of the paid-up equity share capital of Aditya Birla Renewables SPV 3 Limited (“ABRen SPV 3”), a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant.”

Vodafone Idea is expected to announce its Q1 FY26 results today, 14 August 2025. Meanwhile, recent Independent Drive Test (IDT) findings released by the Telecom Regulatory Authority of India (TRAI) highlight significant service quality issues for Vi customers in the Northeast. The report points to elevated call failure rates and slower data speeds compared to competitors Airtel and Reliance Jio.

In light of anticipated financial pressure by the March 2026 quarter, reports suggest that Vodafone Idea has initiated preliminary discussions with private credit firms, including Davidson Kempner, Oaktree, and Varde Partners, to raise a small tranche of debt. This private credit route is being explored as a stopgap measure while the availability of larger-scale bank funding remains uncertain.