Jubilant Ingrevia has entered into an agreement with Amp Energy C&I, an arm of AMP Energy India, to raise a stake in the captive solar power plant to be set up for self-consumption.
As per the agreement, Jubilant Ingrevia shall acquire a 26.60% stake in AMP Energy Green Fifteen Private Limited—a step-down subsidiary formed by AMP Energy India through Amp Energy C&I to put up a 15.5 MW solar power plant under Captive Scheme in Maharashtra.
AMP Energy Green Fifteen was incorporated on September 4, 2020 as a wholly-owned subsidiary of AMP Energy C&I. Jubilant shall acquire the equity stake in AMP Energy Green Fifteen through a combination of equity shares and subscription of compulsory convertible debentures for approximately INR 51.15 million.
AMP Energy is engaged in the business of developing, owning, and operating renewable energy infrastructure for supplying electrical power generated using solar energy and other sources of renewable energy to commercial, industrial and utility customers. It has a project portfolio of over 950 MW across 15 states and has been selling green power to more than 45 leading corporates and government institutions.
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