Indus towers to buy 26% stake in JSW green energy for ₹38 Cr

Indus Towers, India’s leading telecom infrastructure provider, has announced its decision to acquire a 26% stake in JSW Green Energy Eight Limited, a special purpose vehicle (SPV), for ₹38.03 crore. This move is aimed at securing renewable energy from a solar photovoltaic (PV) power plant under a captive model, as per a regulatory filing on December 12, 2024.

The acquisition aligns with Indus Towers’ commitment to sustainability by leveraging clean energy solutions to power its operations. The company will procure 130 MW of renewable energy through this partnership, further reducing its carbon footprint and operational costs.

Power purchase agreement signed

Indus Towers formalized its partnership by entering into a Power Purchase Agreement (PPA) with JSW Green Energy Eight Limited. The agreement ensures a reliable supply of renewable energy, underscoring Indus Towers’ dedication to integrating green energy into its operations.

“The Company will also enter into an agreement for a proposed investment of approximately ₹38.03 crore through the subscription to equity shares of the SPV,” Indus Towers stated in its filing.

About JSW green energy eight

Incorporated in October 2024, JSW Green Energy Eight is a subsidiary of JSW Energy, focused on developing, owning, and operating renewable energy projects. The company specializes in generating, transmitting, and distributing energy using both conventional and non-conventional methods. This collaboration with Indus Towers represents a significant step toward scaling up clean energy projects in India.

Driving India’s renewable energy transition

The renewable energy market in India has seen rapid growth, driven by government initiatives and private investments. Indus Towers’ decision to invest in solar energy aligns with the nation’s goal of achieving 500 GW of non-fossil fuel capacity by 2030. By sourcing renewable power through this partnership, the company is not only fostering sustainable practices but also contributing to India’s green energy revolution.

A model for sustainable growth

This acquisition marks a critical milestone for Indus Towers as it integrates renewable energy into its operational framework. With the telecom sector being a significant energy consumer, adopting solar energy will enhance efficiency, lower emissions, and support India’s vision of a sustainable future.

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