Indus Towers to Acquire 26 Percent Stake in Amplus Tungabhadra for Captive Solar Power

Indus Towers Ltd. has announced the acquisition of a 26 percent equity stake in Amplus Tungabhadra Pvt. Ltd. for the consumption of 50 MW of renewable energy from the solar PV power plant.

“The company will consume 50 MW of renewable energy from the solar PV power plant in compliance with the regulatory requirement for captive power plants under the Electricity Act, 2003, and the Indian Electricity Rules, 2005. This acquisition aligns with the company’s renewable energy objectives, supporting the consumption of sustainable energy and advancing its Net Zero goals,” Indus Towers stated in its filing.

The INR 27 crore investment ensures that Indus Towers meets the regulatory framework for captive power consumption while reducing its reliance on conventional energy sources. The acquisition is expected to be completed by February 2026.

Amplus Tungabhadra Pvt. Ltd., incorporated on October 6, 2023, is a special purpose vehicle focused on the development, operation, and maintenance of renewable energy projects, particularly in solar power. The establishment of the 50 MW solar PV captive plant will enable Indus Towers to integrate clean energy into its operations, further reducing its carbon footprint

With this strategic move, Indus Towers joins a growing number of corporations investing in captive renewable energy projects to ensure regulatory compliance, optimise energy costs, and achieve long-term sustainability targets.