CIE Automotive’s Foray into Renewable Energy

CIE Automotive India, through its subsidiary CIE Aluminium Casting India Limited (CIEALCAST), has acquired a 39.91% stake in AMPIN Energy C&I Thirty One Private Limited for ₹87.5 lakh (₹10 per share), marking its strategic entry into the renewable energy sector. The investment aims to set up a 5 MWp (3.3 MWac) captive solar power plant at its Maharashtra manufacturing facility, helping reduce power costs and improve sustainability. The deal was executed in two tranches, with the second expected within four months, targeting up to 29% ownership on a fully diluted basis. Though the financial outlay is small relative to CIE’s total assets (₹9,768.5 crore), it aligns with its growing focus on investments — up 26.53% YoY — and ESG goals. This move reflects CIE Automotive’s commitment to energy efficiency and sustainable manufacturing, potentially paving the way for future expansion in the green energy space.