Indus Towers acquired 26% stake in Amplus Tungabhadra’s solar project

Amplus Tungabhadra sold a 26% stake to Indus Towers for ₹27 crore, enabling the development of a 50 MW solar plant under captive energy regulations in India.

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Amplus Tungabhadra operated renewable energy plants, managing power generation, distribution, and supply through a special purpose vehicle (SPV). Image Credit/Source: AndreasTroll/Pixabay

India’s Indus Towers acquired a 26% stake in Amplus Tungabhadra for INR 27 crore (~$3.1 million). It planned to use 50 MW of solar power from a plant by Amplus Tungabhadra, meeting captive power regulations under Indian electricity laws. A special purpose vehicle (SPV) was considered for plant ownership. Amplus Tungabhadra operated renewable energy plants for power generation, distribution, and supply.Amplus Tungabhadra was engaged in owning, constructing, operating, and maintaining power stations, including renewable energy plants, for captive generation, accumulation, banking, transformation, distribution, transmission, trading, and supply of electricity. 

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