India Cements Acquires 26% Stake in Amplus TN One Energy
India Cements Ltd has announced the acquisition of a 26% equity share capital in Amplus TN One Energy Private Limited. This strategic move involves entering into Power Purchase Agreements and a Share Subscription and Shareholders Agreement. The acquisition is aimed at securing the company's green energy needs, optimizing energy costs, and complying with regulatory requirements for captive power consumption. Amplus TN One Energy is involved in the generation and transmission of renewable energy, specifically setting up a 41.80 MW (AC) solar power project with a Battery Energy Storage System. The total cost of acquisition is up to ₹14,06,27,240. The acquisition is expected to be completed within 180 days and is not a related party transaction.
Key Highlights
- India Cements acquires 26% stake in renewable energy firm Amplus TN One Energy.
- Investment of up to ₹14.06 crore for green energy needs and cost optimization.
- Acquisition supports captive power consumption and regulatory compliance.
- Amplus TN One Energy to set up 41.80 MW solar project with BESS.
- Deal expected to complete within 180 days; not a related party transaction.
Price Impact
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