Chemical manufacturing company Tatva Chintan Pharma Chem has signed agreements to procure 6.4 MW of power from AMPIN C&I Power Twenty Six’s (AMPIN) 19.8 MW wind-solar hybrid group captive project in Gujarat.

Tatva Chintan will procure 3.2 MW each of wind and solar power from AMPIN’s 9.9 MW of solar and 9.9 MW of wind projects.

The company will invest ₹40 million (~$440,984) to acquire a 10.99% stake in AMPIN’s special purpose vehicle.

The transaction will be completed in one or more tranches.

The transaction involves the acquisition of four million equity shares, each with a face value of ₹10 (~$0.11).

Tatva Chintan manufactures electrolyte salts and solutions for supercapacitor batteries used in energy storage systems (ESS) and electric vehicles (EV).

In the annual report 2024-25, the company said that it is seeing increasing demand for ESS as storage solutions gain adoption in wind and solar projects, owing to their ability to absorb high-voltage currents during peak energy generation. The demand for ESS is also driven by its ability to be integrated into smart grids to manage high voltage fluctuations.

It also highlighted that the rising demand for supercapacitor batteries was driven by the need for sudden bursts of energy during the ignition and acceleration of electric vehicles.

Tatva Chintan said it plans to source renewable energy for its operations. It has also implemented energy-efficiency measures across its facilities to reduce energy consumption and lower carbon emissions.

AMPIN has a renewable energy portfolio of 5 GW across 23 states in the country. The company’s portfolio comprises solar, wind, and storage power projects that serve commercial and industrial customers, as well as utility customers.

Last year, JK Lakshmi Cement announced that it would procure power from a 9.9 MW solar project owned by a special-purpose vehicle of AMPIN Energy Transition.

It also commissioned a 50 MW open access solar power project in Chhattisgarh’s Bemetara district, supplying renewable energy to Texmaco Rail and Engineering.