ADF Foods signs deal for 950 KWp rooftop solar plant at Surat facility
- ADF Foods signs EPC contract with CleanMax for 950 KWp rooftop solar plant
- Project uses CAPEX model, with plant owned by ADF Foods
- Solar plant expected to meet 46% of Surat facility's energy requirements
- Commissioning targeted by end of 2026
- Extends renewable initiatives following earlier 2 MW PPA at Nadiad

*this image is generated using AI for illustrative purposes only.
ADF Foods Limited has signed an Engineering, Procurement and Construction (EPC) contract with CleanMax Enviro Energy Solutions Limited to install a 950 KWp rooftop solar power plant at its manufacturing facility in Surat, Gujarat. The plant will be owned by the company under the CAPEX model, targeting commissioning by the end of this year.
The new installation is expected to meet approximately 46% of the Surat facility's energy requirements through renewable power generated and consumed on site. This initiative extends ADF Foods' renewable energy strategy, which previously included a 2 MW hybrid wind and solar power purchase agreement for its Nadiad facility signed earlier this year.
Strategic focus on operational efficiency
Bimal Thakkar, Chairman and Managing Director and CEO of ADF Foods, stated that the move follows the company's commitment to hybrid renewable power at Nadiad. By investing in its own solar capacity at Surat, the company aims to increase its use of renewable energy and lower electricity costs. The development aligns with broader ESG initiatives focused on responsible manufacturing and reducing carbon footprint in line with India's net-zero emissions goal for 2070.
What the numbers show
The disclosure highlights a dual-pronged approach to energy sustainability. While the Nadiad facility relies on a purchased power model (hybrid wind and solar), the Surat facility shifts to a self-owned asset model (CAPEX). This diversification reduces dependency on external grid supply and potentially stabilizes long-term energy costs through self-generation. The specific allocation of 46% of energy needs at Surat indicates a significant step toward partial energy independence for this key manufacturing hub.
About ADF Foods Limited
ADF Foods is a leading global player in the packaged ethnic food industry, offering frozen foods, ready-to-eat (RTE), and ready-to-cook (RTC) products. Its products are available in over 60 countries across North America, the UK, Europe, the Middle East, and Asia Pacific.
Historical Stock Returns for ADF Foods
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.04% | +4.98% | +2.53% | +68.32% | +27.31% | +59.41% |
How will the projected reduction in electricity costs at the Surat facility impact ADF Foods' overall operating margins in the upcoming fiscal quarters?
What is the expected timeline and capital expenditure budget for expanding the CAPEX-owned solar model to other manufacturing units beyond Surat?
How might this renewable energy initiative influence ADF Foods' valuation multiples among ESG-focused institutional investors?


































