The acquisition is intended to meet the company’s green energy needs. Also, it is aimed at optimising energy cost and comply with regulatory requirements for captive power consumption under electricity laws.
The India Cements will infuse equity investment of up to Rs. 14,06,27,240 into Amplus.
Amplus TN One Energy Private Limited has its registered office in Gurgaon. It is a special purpose vehicle (SPV) for setting up 41.80 MW (AC) solar power projects integrated with Battery Energy Storage System (BESS) on a captive basis. The projects are being established for supply of renewable power to four cement manufacturing units located in Andhra Pradesh and Telangana.
