Jindal Stainless Limited has acquired an additional 7% equity stake in a special purpose vehicle (SPV) focused on developing a 40 MW solar group captive renewable energy project. This acquisition, completed with a further investment of approximately ₹5.08 crore, brings the company’s total equity stake in the SPV to 24.21%. The project aims to meet the company’s power requirements and supports its commitment to renewable energy and carbon emission reduction targets.
Jindal Stainless Enhances Renewable Energy Portfolio
Jindal Stainless Limited announced today, October 28, 2026, its acquisition of an additional 7% equity stake in a special purpose vehicle (SPV). This SPV is dedicated to developing a 40 MW intra-state solar group captive renewable energy project, a strategic move to secure power for the company’s manufacturing plants and further its commitment to sustainability.
Investment and Project Details
The company made a final investment of approximately ₹5.08 crore to secure this additional stake, bringing its aggregate equity holding in the SPV to 24.21%. The project, developed in collaboration with Ampin C&I Private Limited, is expected to generate around 61.73 million units annually for captive consumption. This initiative directly supports Jindal Stainless’s long-term strategy to power its future growth through renewable energy sources, with a stated goal of achieving net-zero carbon emissions by 2050.
Company Background of Acquired Entity
The target entity, Ampin C&I Three Private Limited (referred to as “Ampin”), was incorporated on November 22, 2021, with its registered office in Delhi, India. It functions as a special purpose vehicle focused on developing renewable energy projects. As the project was in its commissioning stage, specific turnover details for Ampin were not applicable at the time of reporting.
Source: BSE
