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Indus Towers acquires 26% stake in Amplus Tungabhadra for ₹27 crore

Indus Towers acquires 26% stake in Amplus Tungabhadra for ₹27 crore


Telecom infrastructure major Indus Towers on Tuesday said it is set to acquire 26 per cent of the equity share capital in Amplus Tungabhadra Private Limited for ₹27 crore on a fully diluted basis.

The company will consume 50 MW renewable energy from a solar PV power plant, which will be set up by Amplus Tungabhadra, in compliance with regulatory requirement for captive power plants as per the provisions of Electricity Act, 2003 and the Indian Electricity Rules, 2005, it said in a filing for stock exchanges.

“This acquisition aligns with the company’s renewable energy objectives, supporting the consumption of sustainable energy and advancing its net zero goals,” Indus Towers said.

A special purpose vehicle (SPV) is being considered for owning and operating a captive power plant, in accordance with the regulatory requirement for captive power consumption under electricity laws.

Amplus Tungabhadra is engaged in the business of owning, establishing, constructing, operating and maintaining necessary power stations including renewable energy plants and to generally generate and/or undertake captive generation, accumulate, bank, transform, distribute, transmit, trade, supply and deal in electricity.





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