On February 25, 2025, Indian Metals & Ferro Alloys Limited (IMFA) unveiled a significant step in their renewable energy journey by acquiring AMPIN Energy Utility One Private Limited. This acquisition marks a pivotal moment for IMFA and their commitment to sustainable energy.
Key Details of the Acquisition:
Target Entity: The acquisition targets AMPIN Energy Utility One Private Limited, also known as the “Power Producer.”
Power Supply Agreement: IMFA has entered into a Binding Term Sheet with AMPIN Energy Utility One Private Limited. This agreement ensures the supply of 40 MW of hybrid renewable power, which includes 58 MW AC of solar capacity and 58 MW of wind capacity. This power will be supplied under a Captive Consumer structure as per the Electricity Act, 2003, and Electricity Rules, 2005.
Industry: Renewable Energy.
Objective: Through this acquisition, IMFA aims to secure a reliable supply of 40 MW of renewable power.
Completion Target: The acquisition is expected to be completed by June 2026.
Consideration: The acquisition will be financed through cash.
Cost: The total cost of the acquisition is ₹61.60 Crore, which will be paid in one or more tranches.
Shareholding: IMFA will gain a 16.26% shareholding control in AMPIN Energy Utility One Private Limited.
Background of AMPIN Energy Utility One Private Limited: AMPIN Energy Utility One Private Limited was incorporated on April 28, 2024. The company is focused on building, developing, owning, generating, supplying, accumulating, transmitting, distributing, storing, purchasing, and selling electrical power and other forms of energy using both conventional and non-conventional methods. They have a presence in India.
Financial History: As AMPIN Energy Utility One Private Limited was recently incorporated, there is no financial history available.
This acquisition underscores IMFA’s commitment to advancing in the renewable energy sector and reinforces their dedication to a sustainable future. By securing a substantial supply of hybrid renewable power, IMFA is poised to make significant strides in the realm of clean energy. Stay tuned for more updates on this exciting development.
