Uflex Limited, a prominent global player in flexible packaging and polymer sciences, has officially announced the formation of a new joint venture (JV) company with AMPIN C&I Power Private Limited. This development aligns with Uflex's increasing focus on sustainable and renewable energy adoption, particularly under India’s captive power generation policy.

On August 1, 2025, Uflex disclosed that the newly incorporated AMPIN C&I Power Twenty Private Limited will serve as the vehicle for this collaboration. As per the arrangement, AMPIN C&I Power Private Limited holds 74%, while Uflex owns a 26% stake, which is the minimum required shareholding to qualify for power procurement under the Captive Power Plant (CPP) policy of India.

Strategic Objective Behind the JV:

The main purpose behind this JV is to establish a solar power generation unit in the state of Haryana, which will generate renewable electricity exclusively for Uflex’s captive consumption. This model of on-site or off-site solar plant ownership allows corporates to reduce reliance on grid power while achieving cost and carbon footprint reductions.

Uflex’s acquisition of 26% equity capital in this JV aligns with regulatory requirements for being classified as a captive consumer. According to Indian regulations, in order to avail the benefits under captive power usage, the consumer must own at least 26% equity in the power-generating company and must consume at least 51% of the power produced.

Company Details and Shareholding:

The JV company, AMPIN C&I Power Twenty Private Limited, was incorporated with a total authorised share capital of ₹15 lakh and an initial subscribed capital of ₹1 lakh. Uflex’s investment in the JV is purely in cash, with shares being subscribed at face value of ₹10 per share.

This investment marks a strategic move by Uflex towards energy self-sufficiency and strengthening its commitment to Environmental, Social, and Governance (ESG) practices.

Noteworthy Disclosures in the Regulatory Filing:

As part of the filing made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Uflex confirmed that:

• The JV does not require any additional government or regulatory approvals for its incorporation.

• The JV will operate in the solar energy sector, specifically targeting electric power generation using photovoltaic technologies.

• The incorporation of the JV has already been completed as of August 1, 2025, and is now operational from a legal standpoint.

• Uflex has become an associate company of AMPIN C&I Power Twenty Pvt Ltd due to its 26% equity holding, thus establishing it as a related party transaction.

Business Implications for Uflex:

This collaboration enables Uflex to not only gain access to clean and cost-effective solar energy but also improve its sustainability metrics, an important aspect in today’s investor and regulatory climate. With environmental regulations tightening and pressure mounting for corporate sustainability, such JV models are increasingly being explored by companies to maintain competitive advantage and compliance.

Moreover, this initiative will likely lead to reduced electricity costs, enhanced supply reliability, and better control over power sourcing for Uflex’s operational units, particularly in Haryana.

Future Outlook and Energy Goals:

By embracing a captive solar power strategy, Uflex is aiming for a long-term energy transition, diversifying its power portfolio and reducing exposure to volatile grid tariffs. This step is also a testament to Uflex’s vision of becoming a climate-conscious and responsible enterprise.

The JV could pave the way for more such projects with AMPIN or other partners, potentially scaling across Uflex’s other facilities depending on the success of the current initiative.

AMPIN C&I, known for its innovative clean energy solutions for commercial and industrial clients, is expected to bring in the necessary technological and operational expertise to ensure optimal performance and regulatory compliance of the solar plant.

Industry Context:

In India, the government’s emphasis on solar energy adoption through schemes like Kusum Yojana, Renewable Energy Certificates (RECs), and Green Open Access Rules has significantly boosted interest in corporate solar power procurement. Companies like Uflex venturing into joint generation projects are setting a precedent for sustainable industrial growth.

Conclusion:

With the incorporation of AMPIN C&I Power Twenty Private Limited, Uflex Limited has reaffirmed its strategic push towards energy efficiency and climate-conscious growth. This JV not only strengthens its operational resilience but also signals a deeper commitment to ESG-aligned business practices. As sustainability becomes a core metric for global competitiveness, this partnership could become a benchmark for similar collaborations in the manufacturing sector.

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