Metals and mining company Lloyds Metals will invest up to ₹480.2 million (~$4.80 million) in three Gentari India (formerly Amplus Energy) special purpose vehicles (SPVs) to source 48 MW of wind and 17.59 MW of solar power for captive consumption.

The company’s board approved the acquisition of a minimum 26% equity stake each in Amplus Green One Power, Amplus Energy One, and Amplus Ceres Solar.

Lloyds Metals will invest up to ₹296.6 million (~$2.97 million) in Amplus Green One for a minimum 26% stake. It has entered into a share subscription and shareholders’ agreement and a wind power purchase agreement (WPPA) with Amplus Green for a 36 MW wind project.

It will also invest up to ₹98.9 million (~$989,000) in Amplus Energy One to procure power from a 12 MW wind project under a WPPA.

For solar power, Lloyds Metals will invest up to ₹84.7 million (~$847,000) in Amplus Ceres and has entered into a solar power purchase agreement with the company.

Amplus Green One and Amplus Energy One develop, install, operate, manage, maintain, supply, and trade electricity generated from wind projects in India. Amplus Ceres carries out similar activities for solar projects.

According to Lloyds Metals, the investments will help increase the share of renewable power used in its operations and reduce its dependence on external power sources.

The company will have preemptive rights to maintain its minimum shareholding in the event of new share issuances. It will also have affirmative voting rights on certain matters that could affect its status as a captive consumer, including changes in the project companies’ capital structure, mergers, reorganizations, liquidation, and project amendments.

According to its Business Responsibility and Sustainability Report for the financial year (FY) 2026, Lloyds Metals’ renewable energy consumption rose to 129,750.5 gigajoules (GJ) during the financial year from 6,980.68 GJ in the previous year. This consumption comprised 80,530.88 GJ of renewable electricity and 49,219.62 GJ of renewable fuel.

The company is also integrating solar and wind power at its Konsari and Unit-3 Hedri operations in Maharashtra to increase the share of renewables in its overall energy consumption.

Last June, Lloyds Metals announced it would procure power from Hexa Climate’s 28.2 MW wind-solar hybrid power projects in Maharashtra.

In May 2025, Lloyds Metals signed two power purchase agreements (PPAs) with Hinduja Renewables for sourcing captive solar power. The first PPA was for 10.7 MW of solar power, and the second was for 50 MW.