Refex Green Power, a wholly owned subsidiary of Refex Renewables & Infrastructure, has won a tender and received a letter of award dated four September 2026 for the setting up of an 80 megawatt (MW) wind power project. The award was issued following bids invited by SJVN, a joint venture of the Government of India and the Government of Himachal Pradesh, and assigns development responsibility for the project including construction, commissioning and operational handover under the terms of the contract.\n\nThe letter of award does not specify any lump-sum contract value or fixed order amount. Instead the award establishes that power produced from the 80 MW facility will be supplied under a long-term Power Purchase Agreement (PPA) at the discovered tariff of Rs three point eight eight per kWh. Consideration under the award is therefore tariff based and will accrue over the tenure of the PPA on the basis of actual energy supplied rather than being recognised as a single fixed contract value on award.\n\nRevenue recognition and cash flow timing for the project will be driven by generation performance and the contract tariff, thereby linking income directly to metered deliveries. This structure allocates price certainty through the discovered tariff while aligning commercial receipts with energy output over the PPA term. The developer will be responsible for executing project milestones and for operational performance that determines billed volumes, and accounting entries will reflect measured energy deliveries and the tariff applied for each billing period.\n\nThe award strengthens the renewable energy portfolio of Refex Renewables & Infrastructure and expands contracted capacity under long-term arrangements. The project will contribute contracted cash flows and support the company's capacity objectives without creating a single lump-sum receivable. The award notice was published on five September 2026.