RSWM Ltd, a flagship company of the LNJ Bhilwara Group and a leading textile manufacturer, has taken a significant step towards sustainability by partnering with Adani Energy Solutions Ltd (AESL) for green energy supply. This collaboration marks a crucial milestone in RSWM's commitment to environmental responsibility and operational efficiency.

Key Highlights of the Partnership

• Green Energy Supply: AESL will provide 60 MW of renewable energy to RSWM's multiple plant locations.
• Investment: RSWM has invested ₹260.00 crores under the Group Captive Scheme with a renewable genco.
• Annual Green Power: The project aims to supply 31.53 crore units of green power annually.
• Renewable Energy Contribution: RSWM's renewable energy usage will increase from 33% to 70% of its total energy requirements.

Impact on RSWM's Sustainability Goals

This partnership represents a significant leap in RSWM's sustainability journey. By sourcing 70% of its total energy requirement from renewable sources, RSWM is setting a new benchmark in the industry, surpassing the national average of 31% clean energy mix in India.

Mr. Riju Jhunjhunwala, Chairman, Managing Director and CEO of RSWM Ltd, emphasized the company's long-term vision, stating, "This achievement underscores our long-term vision to align growth with sustainability and reinforce our position as a forward-looking industrial leader."

Financial and Operational Benefits

The collaboration is expected to enhance RSWM's long-term energy security and operational efficiency while significantly reducing its carbon footprint. Mr. Rajeev Gupta, Joint Managing Director of RSWM Ltd, highlighted the financial aspect of the initiative, mentioning an equity investment of ₹60.00 crores towards this sustainability milestone.

AESL's Role and Future Plans

Adani Energy Solutions, as part of the Adani portfolio, will manage the entire green power value chain for RSWM's additional power requirements. This aligns with AESL's goal of expanding its Commercial & Industrial (C&I) portfolio to 7,000 MW over the next five years.

Mr. Kandarp Patel, CEO of Adani Energy Solutions Ltd, expressed enthusiasm about the partnership, stating, "This collaboration is a testament to the scalability and impact of renewable power in strengthening industrial growth while ensuring sustainability."

Conclusion

This partnership between RSWM and AESL exemplifies the growing trend of industries prioritizing sustainable practices. By significantly increasing its reliance on renewable energy, RSWM is not only reducing its environmental impact but also positioning itself as a leader in sustainable manufacturing within the textile industry.

As more companies follow suit, such initiatives are likely to play a crucial role in India's transition towards a more sustainable and environmentally responsible industrial sector.

Fitch Ratings has revised its outlook for Adani Energy Solutions Limited (AESL) and its subsidiary, Adani Electricity Mumbai Limited (AEML), signaling a positive shift in the credit profile of these Adani Group entities.

Key Rating Actions

Implications of the Rating Action

The revision of the outlook to 'Stable' from 'Negative' while maintaining the 'BBB-' rating suggests that Fitch Ratings has a more positive view on the financial stability and credit worthiness of both AESL and AEML. This change in outlook may indicate:

1. Improved financial performance or stability
2. Enhanced liquidity position
3. Better risk management practices
4. Positive industry or regulatory developments

About the Rated Entities

Adani Energy Solutions Limited, formerly known as Adani Transmission Limited, is a key player in the power transmission sector in India. Its subsidiary, Adani Electricity Mumbai Limited, is responsible for power distribution in Mumbai.

Disclosure and Transparency

In line with regulatory requirements, AESL has promptly disclosed this rating action to the stock exchanges. As per the company's filing:

"Fitch Ratings has revised the outlook of the Adani Energy Solutions Limited ("AESL"), to "BBB-/Stable" from "BBB-/Negative" and affirmed its Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-'."

This timely disclosure demonstrates AESL's commitment to transparency and compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

While this rating action presents a positive development for AESL and AEML, investors and stakeholders should continue to monitor the companies' financial performance and market conditions for a comprehensive understanding of their investment potential.