Indus Towers, India’s leading mobile tower company, has partnered with Amplus to develop a 50 MW solar plant intended for its own energy consumption. The plant will be managed by Amplus Tungabhadra, a special purpose vehicle (SPV) established by Amplus to handle the plant’s ownership and operations.
Indus Towers has entered into an agreement to acquire a 26% stake in Amplus Tungabhadra for approximately ₹27 crore. The company plans to utilize the 50 MW of renewable energy generated by the solar power plant in line with regulations governing captive power plants.
In a recent exchange filing, Indus Towers confirmed: “The Company has entered into an agreement to acquire 26% of the equity share capital in Amplus Tungabhadra Private Limited, an SPV created for owning and operating a Captive Power Plant, as per regulatory requirements for captive power consumption under electricity laws.” This acquisition is part of the company’s broader commitment to renewable energy and supports its Net Zero targets.
Amplus Tungabhadra, established in October 2023, is focused on the development and operation of renewable energy plants, including the proposed 50 MW Solar PV captive plant. The company’s activities also include power generation, distribution, and electricity trading.
Indus Towers also recently reported strong financial results for the quarter ending December 2024, with a 4.8% year-on-year increase in revenue to ₹7,547 crore. The company’s EBITDA grew by 93.2% YoY to ₹6,997 crore, while net profit soared by 159.9% YoY to ₹4,003 crore.
Prachur Sah, Managing Director and CEO of Indus Towers, expressed satisfaction with the company’s performance: “Our ability to secure a dominant share of major customer rollouts has translated into robust tower and colocation additions, reaffirming our execution capabilities and customer-focused approach. This, coupled with significant collections from a major customer, contributed to a stellar financial performance.”
Indus Towers, one of the world’s largest telecom tower companies, plays a crucial role in enabling digital connectivity across India. Established as a joint venture between Bharti Airtel, Vodafone Idea, and Providence Equity Partners, Indus Towers has a vast portfolio of over 190,000 towers strategically located across the country. The company provides end-to-end infrastructure solutions to telecom operators, supporting the rapid expansion of 4G and 5G networks. With a strong commitment to sustainability, Indus Towers emphasizes energy-efficient operations, renewable energy adoption, and green initiatives to minimize its environmental footprint. As a key enabler of India’s digital transformation, Indus Towers continues to strengthen the nation’s telecommunications backbone while driving innovation and inclusivity.
