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Cipla Subsidiary Jay Precision Pharma Acquires 26% in AMPIN SPV for Captive Solar Power
May 22, 2025
Jay Precision Pharmaceuticals, a Cipla subsidiary, has entered into a Share Purchase, Subscription, and Shareholder’s Agreement (SPSSA) with AMPIN Energy Transition to procure solar power through a captive arrangement. The deal involves acquiring a 26% equity stake in AMPIN’s special purpose vehicle (SPV), AMPIN Energy C&I Eighteen, for approximately Rs1.46 crore. The SPV will develop a captive solar power project in Maharashtra.
This move aligns with Cipla’s broader commitment to increasing the share of renewable energy in its operations and complying with captive user norms under Indian electricity laws. Cipla has an ongoing collaboration with AMPIN, dating back to May 2019, and has previously invested in solar projects in Tuljapur and Osmanabad, Maharashtra.
The development reflects a growing trend among Indian pharmaceutical companies to increase renewable energy procurement. Recent examples include Poly Medicure’s 9.9 MWp solar PPA with AMPIN, Supriya Lifescience’s 5 MWp solar plant in Maharashtra, and Aurobindo Pharma’s 30 MW solar project in Telangana. AMPIN Energy Transition continues to play a key role in this space with its 5 GWp portfolio across 22 states, offering a mix of solar, wind, and storage solutions for utility and C&I customers.