Indus Towers has announced an agreement to acquire a 26% equity stake in Amplus Tungabhadra Private Limited, a special purpose vehicle (SPV) focused on renewable energy, for a cash consideration of approximately ₹27 crore. The telecom tower company disclosed this development in a filing with stock exchanges on February 4, 2025.
Investment in Renewable Energy
The acquisition is aimed at owning and operating a captive power plant to meet regulatory requirements under India’s electricity laws. Indus Towers stated, “The planned acquisition is for the purpose of owning and operating a captive power plant, in compliance with regulatory requirements for captive power consumption.”
According to the BSE filing, Indus Towers has entered into a definitive agreement to acquire 26% of the fully diluted equity share capital in Amplus Tungabhadra Private Limited, which will be responsible for developing and managing the renewable power facility.
Benefits and Sustainability Goals
As part of this agreement, Indus Towers will source 50 MW of renewable energy from a Solar PV power plant, adhering to the Electricity Act, 2003, and Indian Electricity Rules, 2005, which mandate specific guidelines for captive power consumption. The company emphasized that this acquisition aligns with its broader sustainability strategy, supporting the adoption of clean energy and reinforcing its commitment to achieving Net Zero emissions.
The completion of this transaction is subject to necessary regulatory approvals and permissions required by Amplus Tungabhadra, with an estimated timeline for closure set for February 2026.
