Indus Towers Acquires 26% Stake in Amplus Tungabhadra for Captive Renewable Power Consumption

In a move towards sustainability and compliance with regulatory mandates, Indus Towers Limited has announced the acquisition of a 26% equity stake in Amplus Tungabhadra Private Limited. This acquisition aligns with Indus Towers’ commitment to renewable energy and will ensure compliance with India’s electricity laws governing captive power consumption.

Indus Towers share price was trading higher by 1.39% as of 9:51 AM on February 4, 2025. 

What is Amplus Tungabhadra?

Amplus Tungabhadra Private Limited, incorporated on October 6, 2023, operates in the renewable energy sector. The company focuses on owning, constructing, operating, and maintaining power stations, with a particular emphasis on solar photovoltaic (PV) energy generation. As part of its business model, it aims to provide sustainable power solutions for industrial and commercial entities.

Key Details of the Acquisition

• Stake Acquired: 26%
• Sector: Renewable Energy
• Purpose: Compliance with captive power regulations under the Electricity Act, 2003
• Power Generation Capacity: 50 MW from a Solar PV captive plant
• Acquisition Cost: ₹27 crore (paid in cash)
• Expected Completion: By February 2026, subject to regulatory approvals

Indus Towers will source 50 MW of renewable energy from the solar plant, reinforcing its commitment to green energy adoption. This initiative is a step forward in the company’s Net Zero sustainability goals.

Why is This Acquisition Important?

India’s Electricity Act, 2003, and Indian Electricity Rules, 2005, require companies to adhere to captive power consumption norms if they wish to generate their own power. Indus Towers’ investment in Amplus Tungabhadra ensures that it meets these regulations while also reducing dependency on non-renewable sources.

Additionally, this move supports the government’s renewable energy initiatives, helping India progress towards a cleaner energy future.

Regulatory Approvals and Timeline

The acquisition is subject to necessary open access approvals from regulatory authorities. Upon obtaining all clearances, the deal is expected to be fully completed by February 2026.

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