Surat-based fabric maker Borana Weaves Limited said on 2 November 2026 that its 9.9 MW hybrid wind-solar project at Kalikanagar, Gujarat, has been delayed again. Developer Clean Max Enviro Energy Solutions Limited now expects the first wind turbine generator (WTG) location and the 7.65 MW solar component before 30 November 2026. The second WTG location is due by 31 December 2026 and the third by 31 March 2027. This fourth revised schedule since June puts full commissioning about 10 months after the 31 May 2026 date cited in June.
Key Details
The update was filed with the National Stock Exchange (NSE) and BSE under Regulation 30 of the Securities and Exchange Board of India (SEBI) listing rules. It replaces the earlier timetable given on 30 September 2026, which is set out in the schedule history below. The company again described every date as tentative.
The company gave the following reasons for the further delay, which it described as beyond the control of the company and the developer:
- high wind speeds at the site
- heavy monsoon conditions, which required additional work on the logistics road
- delays in obtaining shutdowns of the existing 33 kV and 11 kV lines needed for the 33 kV transmission-line work
The filing was signed by Executive Director and Chief Executive Officer Ankur Mangilal Borana and enclosed a letter from Clean Max. It does not say whether the delays affect the company’s power costs or any contract terms with the developer.
The filings do not disclose the project cost, the ownership structure, the turbine supplier or the share of the factories’ power need the project will meet. They also do not reconcile the project’s size. The filings call it a 9.9 MW hybrid project with a 7.65 MW solar component, while the company’s August 2026 investor presentation describes a 19.79 MW hybrid project made up of 9.89 MW of solar and 9.90 MW of wind.
How the Schedule Has Moved
Each revision has come in a separate stock exchange filing, each with a letter from Clean Max attached. The project has been rescheduled four times this year:
- 18 June 2026: Clean Max said commissioning, earlier expected by 31 May 2026, had moved to between the end of July and the end of August 2026. Its letter cited high wind speeds halting WTG erection, a shortage of fuel at the site and the line shutdowns.
- 29 August 2026: one WTG location with the 7.65 MW solar component was rescheduled to 30 September 2026, with the remaining two WTG locations by the end of October 2026.
- 30 September 2026: the company said commissioning activities for the first WTG location and the solar component had not begun. It moved them to the end of October 2026, with the other two WTG locations by the end of November and the end of December 2026.
- 2 November 2026: the current schedule, with the last WTG location in March 2027.
Clean Max’s letters say the shutdowns of the 33 kV and 11 kV lines must come from a private developer and from Gujarat Energy Transmission Corporation Limited (GETCO) and Paschim Gujarat Vij Company Limited (PGVCL). High wind speeds and the line shutdowns are cited as causes in all four filings.
Policy Backdrop
Industrial buyers of renewable power in India operate under the Electricity (Promoting Renewable Energy Through Green Energy Open Access) Rules, 2022, which the Ministry of Power notified on 6 June 2022. The rules cut the open access transaction limit for green energy from 1 MW to 100 kW and allow commercial and industrial consumers to buy green power voluntarily. Approvals must be granted within 15 days. The Borana filings do not say which supply route the Kalikanagar project will use.
About the Company
Borana Weaves was established in 2020 and is headquartered in Surat. It makes unbleached synthetic greige fabric used in dyeing, printing, home décor, fashion and technical textiles. In its March 2026 release, the company said it ran four manufacturing units with 1,208 water-jet looms and about 666 employees. Greige fabric made up 92% of FY26 revenue and polyester textured yarn 8%, according to its investor presentation.
The company reported FY26 revenue from operations of ₹388.59 crore and profit after tax of ₹64.61 crore. For Q1 FY27 (April–June 2026), revenue was ₹100.84 crore, up 24.5% from ₹81.00 crore, and profit after tax was ₹16.48 crore, up 35.0% from ₹12.20 crore.
The Company’s Recent Pipeline
- March 2026: commissioned a 3.545 MW rooftop solar project across its manufacturing units and brought all 160 water-jet looms at Unit 4B into operation. Executive Director and Chief Financial Officer Rajkumar Borana said the move to renewable energy was expected to optimise power costs and support margins.
- August 2026: the board approved an expansion at Unit 4 with 192 water-jet looms and three texturising machines, funded through internal accruals, with commercial production targeted by December 2026.
- August 2026: the investor presentation set a renewable portfolio target of 23.30 MW, combining the operational rooftop plant with the hybrid project.
Outlook
The first test of the new schedule is 30 November 2026. Each date still depends on the line shutdowns and site conditions that have caused every delay so far. The Unit 4 loom expansion is also targeted for December 2026, so the extra capacity and part of the renewable supply are scheduled for the same quarter. Borana Weaves has filed an update for each change so far, so any further slip should appear in a stock exchange filing.
Official Sources
- Borana Weaves Limited – Update on Further Delay in Commissioning of the 9.9 MW Hybrid Power Project (NSE, 2 November 2026): https://nsearchives.nseindia.com/corporate/BORANA_02112026112424_Reg_30_Update_in_Hybrid_Project.pdf
- Borana Weaves Limited – Further Delay in Commissioning of the 9.9 MW Hybrid Power Project (NSE, 30 September 2026): https://nsearchives.nseindia.com/corporate/BORANA_30092026181618_Reg_30_Intimation_on_Delay.pdf
- Borana Weaves Limited – Update on Commissioning Timelines, with Clean Max letter (NSE, 18 June 2026): https://nsearchives.nseindia.com/corporate/BORANA_18062026161836_SE_18062026.pdf
- Borana Weaves Limited – Media Release on 3.545 MW Rooftop Solar Project (NSE, 25 March 2026): https://nsearchives.nseindia.com/corporate/BORANA_25032026165143_Press_Release_SE.pdf
- Borana Weaves Limited – Investor Presentation (NSE, 31 August 2026): https://nsearchives.nseindia.com/corporate/BORANA_31082026123232_Investor_Presentation_Filing.pdf
- Ministry of Power (PIB) – Green Energy Open Access Rules notified (19 July 2022): https://pib.gov.in/PressReleasePage.aspx?PRID=1842737
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