Target Entity: Amplus TN One Energy Private Limited
Type of Deal: Acquisition of minority equity stake (26%)
Stake/Capacity: 26% equity stake in a special purpose vehicle developing 41.80 MW (AC) solar power projects integrated with Battery Energy Storage System (BESS)
Deal Value: Equity investment of up to ₹14,06,27,240 (Rupees Fourteen Crore Six Lakh Twenty-Seven Thousand Two Hundred Forty Only)
Consideration Structure: Cash consideration
Funding Source: Not explicitly disclosed in the document
Financial Impact: Not explicitly disclosed in the document regarding revenue contribution, EBITDA impact, or accretion/dilution
Timeline: Expected completion within 180 days from the execution of Power Purchase Agreements and Share Subscription and Shareholders Agreement
Strategic Rationale:
To meet the company's green energy needs
Optimize energy costs
Comply with regulatory requirements for captive power consumption under electricity laws
The projects are being established for supply of renewable power to four cement manufacturing units located in the States of Andhra Pradesh and Telangana
Approval Status: Transaction has been entered into through execution of Power Purchase Agreements and Share Subscription and Shareholders Agreement
Related Party Status: The acquisition is not a related party transaction. The promoter/promoter group/group companies have no interest in the proposed acquisition.
Target Company Background:
Industry: Generation and transmission of renewable energy (solar power)
Date of incorporation: 6th June 2024
Turnover (last three years): Nil (Rs. in crores)
Country of operation: India
Business nature: Special purpose vehicle for setting up solar power projects with battery storage on a captive basis
Governmental/Regulatory Approvals: None specified in the document
Reference Regulation: SEBI Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
