Indus Towers, a Gurugram-based mobile tower installation company, is set to source 50 MW of renewable energy from Amplus Tungabhadra, a special purpose vehicle of Amplus Energy, through captive mode. To facilitate this, the company will invest Rs 270 million for a 26 per cent stake in Amplus Tungabhadra on a fully diluted basis.

Amplus Tungabhadra will establish a 50 MW solar captive power project exclusively for Indus Towers, with completion expected by February 2026. As part of its renewable energy strategy, Indus Towers has already integrated solar systems at 15,535 sites and operates 276 locations powered by solar and wind microgrids. The company currently manages 229,659 towers and 379,236 co-locations.

In Karnataka, Indus Towers has entered into a power purchase agreement and a shareholder’s agreement for an additional 8.3 MW with Amplus. The company is actively expanding its renewable energy portfolio under green energy open access, targeting a capacity of up to 3.5 GW. Its long-term goal is to achieve net-zero emissions by 2050, with plans to scale its renewable energy capacity to the gigawatt level. At present, the company has an installed solar capacity of 76 MW and aims to reach 25,000 solar-powered sites by 2025. Additionally, eleven of its warehouses are fully powered by solar energy.

Renewable energy integration and the adoption of energy storage solutions have significantly reduced diesel consumption. In a similar move last year, Indus Towers committed to procuring 130 MW of solar energy from JSW Green Energy Eight, acquiring a 26 per cent stake with an investment of approximately Rs 380.3 million. In March 2024, the company also partnered with NTPC Green Energy to develop grid-connected renewable energy projects, including solar, wind, and energy storage solutions.

News source: Mercom India