Airtel, AMP Energy Partner For Wind-Solar Hybrid Project

By Chitrika Grover/ Updated On Fri, Jan 3rd, 2025

Highlights :

AMP Energy Green Three was formed to develop a captive solar power plant in Rajasthan, which is expected to become operational by Q2 of FY 2025-26.

Airtel, AMP Energy Partner For Wind-Solar Hybrid Project

Airtel To Procure Power From AMP Energy's 50 MW Wind-Solar Hybrid Project

Telecom firm Bharti Airtel recently signed an agreement with AMP Energy Green Three Private Limited, a special purpose vehicle (SPV) of AMP Energy Green, to acquire 3,78,90,005 (26%) equity shares. To acquire power from this project, the companies formed the SPV to own and operate the captive power plant.

In its regulatory filing, AIrtel stated: “AMP Energy Green Three, a Special Purpose Vehicle (SPV) of AMP Energy Green, is being established to develop, construct, operate, and maintain a 50 MW hybrid wind-solar power plant in Village Jodh Singh Ka Gaon, Barmer district, 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. AMP Energy Green Three was formed to develop a captive solar power plant in Rajasthan, which is expected to become operational by Q2 of FY 2025-26. As a result, AMP Energy Green Three has reported no revenue in the preceding three years.”

AMP Energy’s Previous Collaboration

Ramakrishna Forgings, a metal-forming company, recently invested ₹12.90 crore in the form of equity and debentures in AMP Energy C&I Fifteen. The Kolkata-based company entered into share subscription and shareholder agreements, along with other relevant agreements, with the AMP Energy subsidiary to procure solar power under a captive generation scheme.

AMP Energy C&I Fifteen Private Limited, an SPV, was recently incorporated to develop, construct, operate, and maintain a solar power plant in Jamshedpur, Jharkhand, which is expected to generate around 45.69 MUs annually. The facility has not yet commenced commercial production.

AMPIN Energy Transition also secured financial closure for its 200 MWp solar-wind hybrid project in Rajasthan. Green loan financing for the project was secured from Standard Chartered. The total investment for this project is valued at ₹944 crores (~USD 113 million). Upon completion, the solar-wind hybrid plant is expected to generate approximately 435 million units of renewable energy annually, providing power to about 74,486 households.