Indus Towers Plans 100,000 Solar-Powered Towers by FY29 After Crossing 50,000

Indus Towers aims to have 100,000 towers powered by solar energy by financial year 2028-29, after crossing the 50,000 mark from a base of 280,000 towers as of September 2026, Managing Director and Chief Executive Officer Prachur Sah told Business Standard. The installations currently generate 300 megawatt.

Indus Towers' Solar Rollout and Diesel Savings

Indus Towers began using solar power at its towers in mid-FY24. Sah said the 50,000 solar-powered sites, with total installed capacity of 300 MW, represent the largest such deployment globally and the first company to reach that benchmark. "Our ambition is to get 100,000 (solar-powered towers) by FY29," he said. "This not only reduces cost, but actually cuts emissions."

In the first half of FY27, Indus Towers reduced diesel consumption by 11 per cent compared with H1 FY26 through a combination of solar, fuel, batteries and AI-based energy management, according to Sah. Some sites in Jammu and Kashmir run on solar and batteries alone without diesel. The company is also moving its sites from lead-acid batteries to lithium ion over the next few years.

Sah said the second customer's rollouts are starting to catch up and payments are coming through. Vodafone Idea is Indus Towers' second-largest tenant. In Q2 FY27, Indus Towers rolled out 3,000 towers and 8,000 tenancies, Sah said.

Indus Towers' Financial and Operating Scale

Indus Towers reported revenue of ₹324.9 billion for FY2026, up 7.9 per cent year-over-year, according to akta.pro company records. The same records show 264,514 towers and 428,014 co-locations as of March 31, 2026, covering all 22 telecom circles in India. The board recommended a final dividend of Rs 14 per share for FY26, reinstating dividends after a four-year pause.

Cygni Energy and Other Earlier Moves

In October 2026, ICICI Securities maintained a reduce rating on Indus Towers with a target price of Rs 360, citing Q2FY27 tenancy growth of 5.9 per cent year-over-year but rental revenue growth of only 3.8 per cent due to a 1.6 per cent decline in average revenue per tenant, TradingView reported. In October 2026, Cygni Energy signed an MoU with Indus Towers to develop battery energy storage systems for telecom infrastructure, targeting up to 1.5 GWh of capacity, Business Standard reported. In September 2026, Indus Towers launched a flood relief initiative in Banda and Chitrakoot districts of Uttar Pradesh, reaching about 900 affected community members, passionateinmarketing.com reported.

Indus Towers' Africa Expansion

Indus Towers holds licences in three African countries: Nigeria, Zambia and Uganda. Sah said the company did its first set of installations in Uganda and Zambia in September. "Africa is a long-term strategy for us," he said, adding that the plan is greenfield expansion with lower capex per tower and reduced energy costs.