Sanmar Group acquires majority stake in AltEons Energy

Sanmar Group acquires majority stake in AltEons Energy

Tue, September 1, 2026 at 4:55 PM GMT+3 2 min read

India-based business conglomerate Sanmar Group has acquired a majority stake in renewable energy platform AltEons Energy, investing an undisclosed sum to support the development of more than 1.5GW of renewable energy projects across India.

The collaboration will focus on delivering cleaner power solutions for corporate and industrial customers.

AltEons Energy is expanding its integrated platform, combining solar, wind, energy storage and energy management technologies to provide clients with round-the-clock renewable power.

Its current pipeline includes a 210MW hybrid project under construction in Maharashtra featuring wind, solar and battery energy storage systems (BESS).

This project aims to meet the rising energy requirements of businesses operating in the state.

AltEons Energy founder and CEO Srinivasan Viswanathan said: "The capital will go towards securing the next round of 800MW pipeline by the end of the year, which will help us to scale the next phase of growth."

The company has stated that its target is to achieve an 800MW project pipeline by the end of 2026, amid growing demand among companies for sustainable energy solutions.

AltEons Energy has more than 1GW of projects in development and aims to build more than 5GW of renewable capacity within the next three years.

Its client base includes sectors such as manufacturing, automotive, data centres and industrial engineering, with many customers prioritising long-term options that help fulfil environmental, social and governance goals.

Sanmar Group chairman Vijay Sankar said: "AltEons has built a compelling platform focused on addressing one of the most critical challenges in energy transition, delivering reliable renewable power at scale.

"We believe the company's innovative approach, experienced leadership and strong execution capabilities position it to become a significant player in India's evolving renewable energy sector."

"Sanmar Group acquires majority stake in AltEons Energy" was originally created and published by Power Technology, a GlobalData owned brand.