Indian telecommunications company Bharti Airtel announced that it has entered into an agreement to acquire nearly 3.79 crore shares of AMP Energy Green Three, representing a 26 percent stake. The announcement was made by Bharti Airtel on January 2, after market hours. This acquisition further strengthens Airtel's sustainability efforts to procure and use green energy.
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Details of the Acquisition
"We wish to inform you that the company has entered into an agreement for the acquisition of 3,78,90,005 (26 percent) equity shares in AMP Energy Green Three Private Limited, a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant, in accordance with regulatory requirements for captive power consumption under electricity laws," the company said in a filing to the exchanges on January 2, 2025.
The transaction is valued at Rs 37.89 crore in total and involves the acquisition of 3,78,90,005 equity shares of Rs 10 each.
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AMP Energy Green Three
AMP Energy Green Three is an Special Purpose Vehicle (SPV) of AMP Energy Green, established to develop, construct, operate, and maintain a 50 MW hybrid wind and solar power plant at Village Jodh Singh Ka Gaon, District Barmer, Rajasthan, India. The project will be connected to the 220 KV Fatehgarh GSS of PGCIL and will supply green power to industries across India through the interstate network.
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AMP Energy Green Three was formed to develop a captive-generating solar power plant in Rajasthan, which is expected to become operational by Q2 of FY 2025-26.
