Key Takeaways
- Indus Towers is acquiring a 26% stake in Amplus Tungabhadra Pvt Ltd for Rs 27 crore to establish a captive solar power plant.
- The deal supports Indus’ renewable energy initiatives and aims to consume 50 MW of renewable energy, aligning with India’s electricity regulations.
- Indus Towers continues to expand its renewable energy focus, having previously announced a similar acquisition in December 2024.
Indus Towers Acquires Stake in Renewable Energy Venture
Indus Towers has announced its acquisition of a 26% stake in Amplus Tungabhadra Pvt Ltd for a cash consideration of Rs 27 crore. This strategic investment is aimed at establishing a captive power plant, essential for compliance with India’s electricity regulations. The announcement was made in a recent filing to the Bombay Stock Exchange (BSE).
The acquisition will enable Indus Towers to consume 50 MW of renewable energy from a Solar PV power facility, supporting the company’s renewable energy goals and advancing its commitment to achieving Net Zero emissions. Indus emphasizes that this move aligns with its sustainability objectives, as the company seeks to enhance its energy efficiency and reduce reliance on fossil fuels.
Amplus Tungabhadra Pvt Ltd is a special purpose vehicle (SPV) focused on developing and operating power stations, particularly in renewable energy. It will manage the establishment of a 50 MW Solar PV captive plant. However, the completion of this deal hinges on obtaining necessary consents and approvals from regulatory authorities, with a target date for finalization set for February 2026.
Indus Towers has been proactive in expanding its renewable energy portfolio. In December 2024, the company announced another significant acquisition—a 26% stake in JSW Green Energy Eight Ltd for Rs 38.03 crore. The expected closure of that transaction is set for March 2026. Such ventures are key components of Indus Towers’ strategy to optimize its energy costs while enhancing sustainability.
During its recent fiscal third-quarter earnings call, Indus management highlighted ongoing initiatives aimed at improving energy margins. This includes efforts to reduce diesel consumption while increasing the use of renewable energy sources. Collaborations with strategic partners under the Green Energy Open Access policy—which has been enacted in almost 24 states—are also designed to make energy consumption more efficient and promote the wider adoption of renewable energy.
Overall, Indus Towers is positioning itself as a leader in the renewable energy sector, driven by regulatory support and a strong corporate commitment to sustainability. Through these acquisitions and initiatives, the company aims not only to lower its energy costs but also to contribute positively to environmental sustainability efforts in India.
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