Poly Medicure Ltd, a leading medical device manufacturer, has entered into a joint venture agreement with AMPIN C&I Power Private Ltd to establish a solar power project in Haryana. The project will function as a captive power plant, supplying electricity to Poly Medicure’s manufacturing unit in the region.
The agreement, signed on January 10, outlines the roles of both parties, with AMPIN C&I Power specializing in renewable energy project development, construction, and operations, while Poly Medicure serves as the captive user for industrial energy requirements.
The joint venture company (JVC) will have a shareholding split, with AMPIN C&I Power holding a 74% stake (7,400 equity shares of ₹10 each) and Poly Medicure owning the remaining 26% (2,600 equity shares of ₹10 each). Both parties will contribute capital in one or more tranches based on mutually agreed terms.
The management of the JVC will be governed by a board of directors, responsible for overseeing operations and making strategic decisions. Certain key decisions, as required by law and the joint venture agreement, will need shareholder approval.
This collaboration underscores Poly Medicure’s commitment to sustainability and renewable energy adoption, supporting its operational needs while contributing to a greener future. AMPIN Energy Transition is a pioneering renewable energy company in India, boasting a robust portfolio of approximately 4 GWp across 21 states.
With its headquarters in New Delhi and regional offices in Mumbai, Bangalore, and Kolkata, the company offers a diversified mix of renewable energy assets, combining solar, wind, and storage solutions to deliver sustainable power to both utility and commercial & industrial customers. AMPIN Energy Transition excels in providing end-to-end energy solutions that ensure 100% energy transition while reducing operational costs for top-tier clients in industries such as pharmaceuticals, automobiles, cement, steel, heavy engineering, infrastructure, FMCG, education, IT & data centers, utilities, and government entities.
Beyond its core focus on renewable energy generation, AMPIN also strengthens its market position through Energy Transition Enablers, which include energy trading, solar cell and module manufacturing, green hydrogen, and energy storage initiatives. These strategic initiatives enhance the company’s competitive edge and solidify its position as a leader in India’s energy transition landscape. Backed by a highly skilled team and supported by prominent institutional investors from Europe, Asia, and North America, AMPIN is at the forefront of India’s renewable energy revolution.
Poly Medicure is known for its commitment to quality, safety, and reliability, ensuring that each product meets rigorous international standards. The company is dedicated to advancing healthcare by creating solutions that improve clinical outcomes while maintaining cost-effectiveness for healthcare providers. With a global presence, Poly Medicure plays a significant role in enhancing the healthcare landscape and improving patient well-being worldwide.
