Uno Minda to Invest up to INR 4.75 Crore in SPV to Procure Solar Power in Tamil Nadu
Uno Minda has approved an investment of up to INR 4.75 crore in a Special Purpose Vehicle (SPV) to procure captive solar power under open access arrangement and boost its renewable energy usage in Tamil Nadu.
September 06, 2025. By Mrinmoy Dey
The purpose of acquiring shares is for availing Captive Open Access Solar power thereby increasing the Company's utilisation of renewable energy in the state of Tamil Nadu, the company stated in a regulatory filing.
The company said the soon-to-be incorporated SPV will focus on setting up, generating, and distributing solar power in India. Uno Minda plans to acquire up to 30 percent equity in the entity. The deal is expected to close in the fourth quarter of FY26.
In March 2025, the company board approved an investment of INR 6.25 crore in the shares of Gentari’s SPV – Amplus Ampere to procure 17.85 MWp of solar power from Gentari’s captive plant in Maharashtra under open access arrangement.
As per the Uno Minda’s Business Responsibility and Sustainability Report 2023-24, for Uno Minda plants in India, renewable electricity contributed towards 24 percent of the total electricity consumption as on March 31, 2024.
"Solar power installations across several facilities have significantly reduced our reliance on non-renewable energy sources. The share of renewable energy in total energy has increased approximately 5 percent during the current year as compared to FY 2022-23," it said.
The company has set a target to meet 40 percent of its global electricity needs from renewable energy sources by 2030.
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