Indus Towers is set to acquire 26 per cent stake in JSW Green Energy Eight Limited, a special purpose vehicle (SPV) involved in the renewable energy space, for a cash consideration of Rs 380.3 million.
Additionally, Indus has signed a power purchase agreement (PPA) with JSW Green Energy Eight for procurement of renewable energy from the solar photovoltaic (PV) plant, under captive mode.
This acquisition is contingent upon obtaining all necessary regulatory approvals for the power plant, with an expected completion date set for March 2026. Under the terms of the PPA, Indus Towers will secure 130 MW of renewable energy from the solar PV facility. This strategic move aligns with Indus Towers’ commitment to enhancing its renewable energy portfolio and advancing its net-zero emissions goals.
