Bharti Airtel Acquires 26% Stake In AMP Energy Green- Details

Bharti Airtel has acquired a 26 per cent stake in AMP Energy Green Three Private Limited. The Airtel share closed at Rs, 1,196.00, up by Rs 16.50, or 1.40 per cent on Thursday, January 2, 2025.

Bharti Airtel Acquires AMP Green Energy Share: Airtel Issues Statement

In a BSE filing, Airtel said, "The Company has agreed to the acquisition of 3,78,90,005 (26 per cent) equity shares in AMP Energy Green Three Private Limited, a special-purpose vehicle formed to own and operate the Captive Power Plant, in terms of the regulatory requirement for captive power consumption under electricity laws."

Airtel has agreed to buy 26 per cent of the 3.7 cr shares of AMP Energy Green Three Private Limited. The company is trying to meet its legal requirements for using electricity from a captive power source through this deal.

Bharti Airtel Acquires AMP Green Energy Share: Details

AMP Green Energy has to comply with regulatory requirements for captive power plants under the provisions of the Electricity Act, 2003 and Indian Electricity Rules, 2005, and procurement of cost-effective renewable energy.

The cost of acquisition is Rs 37,89,00,050 in aggregate for the acquisition of 3,78,90,005 equity shares of Rs 10 each.

AMP Energy Green Three is a Special Purpose Vehicle (SPV) of Amp Energy Green Private Limited established for developing, constructing, operating, and maintaining a 50 MW hybrid wind-solar power plant at Village Jodh Singh Ka Gaon, district Barmer, Rajasthan, India.

AMP Energy Green Three was formed on March 19, 2020. for developing a captive generating solar power plant in Rajasthan which will become operational by Q2 of FY 2025-26, hence the revenue of AMP Energy Green Three in the preceding three years is Zero.

The project will be connected at 220 KV Fatehgarh GSS of PGCIL and will supply green power to industries across India through the interstate network.