Nxtra to acquire 35% stake in captive solar power project
BHARTIARTL · price
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Nxtra Data, a Bharti Airtel subsidiary, agreed to buy 51,92,000 shares, or 35%, in AMPIN Energy C&I Sixteen for INR 5.19 crore in cash. The company is developing a 13.2 MW solar plant in Parbani, Maharashtra, to supply power to Nxtra and is expected to start operating in Q4 of FY2025-26. Completion needs grid connection and electricity access approvals.
Supports Nxtra's lower-cost captive renewable power. The small cash purchase is unlikely to materially affect Airtel's results.