Telecommunications company Indus Towers has announced to entered into a power purchase agreement with JSW Green Energy Eight along with an agreement for an investment of Rs 38.03 crore through the subscription of equity shares.

Indus Towers has announced its acquisition of a 26% stake in JSW Green Energy Eight for Rs 38.03 crore. This move is aimed at securing 130 MW of renewable power from a solar PV plant. JSW Green Energy Eight is set to advance in developing and distributing green energy.

Indus Towers has signed a Power Purchase Agreement with JSW Green Energy Eight for renewable energy procurement, investing Rs 38.03 crore for a 26% stake in an SPV, supporting its Net Zero goals.

The agreement involves procuring 130 MW of renewable energy from a solar photovoltaic (PV) plant under a captive model, Indus Towers said in an exchange filing.

JSW Green Energy Eight was incorporated in October 2024 to build, develop, own, generate, supply, accumulate, transmit, distribute, store, purchase, and sell electrical power or any other energy by using conventional and/or non-conventional methods.

Under this agreement, Indus Towers will enter into an agreement for a proposed investment of approximately Rs 38.03 crore.

Indus Towers is set to acquire a 26% stake in JSW Green Energy Eight for Rs 38.03 crore. This investment will enable Indus to procure 130 MW of renewable energy from a solar power plant under a captive mode agreement.

Telecom infrastructure company Indus Towers on Friday said it will acquire a 26 per cent stake in JSW Green Energy Eight for Rs 38.03 crore to procure renewable energy from a solar PV plant.