India, Aug. 14 -- 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 ...