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Uno Minda to Source 17.85 MW Solar Power from Amplus Ampere’s 55 MW Project

Automotive solutions provider Uno Minda has announced plans to procure 17.85 MW of solar power from Amplus Ampere, a special purpose vehicle (SPV) of Amplus Solar. The power will be sourced from Amplus Ampere’s 54.94 MW captive solar project in Maharashtra.

According to a BSE filing, Uno Minda’s board of directors has approved an investment of Rs35 lakh per MW, amounting to a total of Rs6.25 crore. As part of this agreement, the company will acquire a 9.75% equity stake in the SPV by the first quarter of 2025. Amplus Ampere currently has a paid-up capital of Rs100,000.

Renewable Energy Commitment

Uno Minda is steadily increasing its renewable energy consumption. As per its 2023-24 annual report, 18% of its total energy needs were met using renewable sources. The company has set a target to increase this share to 40% by 2026.

Earlier in April 2024, Uno Minda invested Rs2.27 crore in Strongsun Renewables to source solar power from an 8.54 MW (DC) captive solar project for its alloy wheel-two-wheeler division in Supa, Maharashtra. The company has also installed 2.8 MW of cumulative solar systems across multiple locations in India.

Industry-Wide Shift to Green Energy

Several industries, including automotive, textile, and cement, are increasingly transitioning to renewable energy to reduce their carbon footprint and operational costs.

The growing adoption of renewable energy in the automotive sector highlights a significant shift toward sustainability and cost efficiency in India’s manufacturing industry.