Indus Towers Limited has officially announced the acquisition of a 26% equity stake in Amplus Tungabhadra Private Limited, a special purpose vehicle (SPV) established for setting up and operating a solar PV captive power plant. This move aligns with the company’s commitment to renewable energy consumption and sustainability goals.
The acquisition, valued at approximately Rs 27 crore, involves a cash consideration. Amplus Tungabhadra, incorporated in October 2023, is part of the renewable energy sector and will develop a 50 MW solar PV power plant to supply energy for Indus Towers’ captive consumption. This initiative complies with the Electricity Act of 2003 and Indian Electricity Rules, 2005, helping Indus Towers meet regulatory requirements.
The solar plant aims to advance Indus Towers’ Net Zero ambitions while providing sustainable energy. The company expects to complete the acquisition by February 2026, pending necessary regulatory approvals.
The acquisition highlights Indus Towers’ broader strategy to invest in sustainable and renewable energy sources to reduce carbon emissions and reliance on conventional power. Amplus Tungabhadra will focus on constructing, maintaining, and generating renewable electricity, supporting both corporate sustainability targets and India’s clean energy transition.
