AMPIN, Varroc Partner For Another Maharashtra Solar Project

New Delhi-based renewable energy company AMPIN Energy Transition, today signed a transaction document with Varroc group for an additional 27 MWp solar power project in Maharashtra. This order follows the implementation of AMPIN’s initial solar projects in Maharashtra, Karnataka, Uttar Pradesh & Tamil Nadu. This new PPA marks a repeat order from Varroc Group, highlighting their continued trust and satisfaction with AMPIN’s renewable energy solutions.

The new 27MWp solar project can also support Varroc Group’s to reduce their carbon footprint by mitigating 35,500 MT of CO2 per year and embracing sustainable practices. The company currently has a total portfolio of ~4GWp across 21 states in the country with regional offices in Mumbai, Bangalore & Kolkata.

With this additional capacity, Varroc’s total contracted solar capacity with AMPIN soars to >60MWp and this latest PPA will enable Varroc Group to meet approximately 70% of their energy requirements with clean, renewable energy. This shift can lead to cost savings, with an estimated 45% reduction in energy costs across their manufacturing plants in Maharashtra.

AMPIN continues to solidify its position as the unrivalled leader in Maharashtra’s renewable energy landscape. Leveraging its state-of-the-art Solar Park in Maharashtra, AMPIN is dedicated to driving forward the energy transition and becoming a renewable energy partner of choice for its customers.

Last year, in 2023, the company collaborated with Varroc to power up its manufacturing plants in Maharashtra. AMPIN is provided 33.1 MWp of solar power to Varroc’s manufacturing plants situated in Maharashtra. AMPIN has successfully commissioned multiple back-to-back solar open-access projects in the state. Leveraging its state-of-the-art Solar Park in Parbhani, Maharashtra which boasts a capacity of 105 MWp, AMPIN has designated Varroc as its anchor client, a testimony to their synergistic vision and shared commitment to environmental conservation.

Strides Pharama Makes Investment Rs. 1.61 Cr Investment In AMPIN

Recently, AMPIN, a special purpose entity formed for special purpose vehicle (SPV) for setting up captive solar power projects in Tamil Nadu and is a group entity of AMPIN C&I Power Private Limited. The proposed arrangement is for purchase of electricity/ power as captive user on mutually agreed terms and conditions for utilization at Company’s facility in Alathur, Chennai. This investment is to be used by AMPIN C&I for setting up captive solar power projects in Tamil Nadu. Strides Pharma acquired a 2.48% stake in AMPIN Energy C&I One on a fully diluted basis to set up captive solar power projects in Tamil Nadu.

The project is expected the transaction required for the acquisition of this project to be completed in Q4FY25. With this investment, Pharama is expected to acquire 2.48% stake in AMP C&I on a fully diluted basis.