Indus Towers to Boost Energy Portfolio with Stake in Amplus Tungabhadra
Indus Towers has announced an agreement to acquire a 26% stake in renewable energy firm Amplus Tungabhadra for approximately Rs 27 crore. This deal, aimed at securing 50 megawatts of solar power, aligns with regulatory requirements for captive power plants and is expected to finalize by February 2026.
- Country:
- India
Indus Towers, a leading telecom infrastructure firm, announced on Tuesday its strategic move into renewable energy by acquiring a 26% stake in Amplus Tungabhadra. The acquisition, valued at roughly Rs 27 crore, marks a significant step in meeting regulatory demands for captive power consumption under India's electricity laws.
Through this agreement, Indus Towers will utilize 50 megawatts of renewable energy sourced from Amplus's forthcoming solar PV power plant. The initiative aims to bolster Indus Towers' commitment to sustainable energy while ensuring compliance with the regulatory framework for captive power plants.
The deal is projected to conclude by February 2026, highlighting Indus Towers' forward-looking approach to integrating sustainable practices into its operations within the competitive telecom sector.
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