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CIEINDIA · price
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CIE Automotive India is investing up to Rs. 2.62 crore in AMP Energy C&I Thirty Two Private Limited to set up a 7.5 MWp captive solar power plant. The investment gives CIE about 29% equity on a fully diluted basis (40% of voting paid-up capital) and makes AMP Energy an associate company. The solar power from this plant will be used at CIE's Forgings plant in Chakan, Pune, helping the company cut electricity costs and use more green energy. AMP Energy is a special purpose vehicle of AMPIN C&I Private Limited, incorporated in December 2023, and has not yet started commercial operations. The deal is in cash, not a related-party transaction, and is expected to close within four months.
This is a small, strategic investment aimed at reducing power costs at the Chakan plant rather than driving revenue growth, so the direct impact on the stock is likely limited. However, it signals CIE's focus on lowering energy expenses and meeting sustainability goals, which can support long-term margin improvement.