UltraTech Cement has agreed to acquire a 26 per cent equity stake in Solaris Horizon Energy by entering into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement. The company will invest up to Rs 277.5 million (Rs 27.75 crore) in the special purpose vehicle promoted by Waaree Forever Energies, which is developing a 65 megawatt (MW) solar power project in Chhattisgarh. This acquisition is intended to secure solar power on a captive basis for UltraTech plants in Mungeli district.

The investment amount converts to Rs 277.5 mn and the agreements envisage completion within 180 days from execution. The deal reflects a strategy to source renewable power directly and to optimise energy costs across the group. UltraTech has structured the transaction to take a minority stake while securing supply through the Energy Supply Agreement.

The move forms part of a wider plan to increase reliance on renewable and clean energy sources across operations. During FY2026 the company commissioned 371 MW of renewable capacity, taking installed renewable capacity to one point three nine gigawatt (GW), and added 63 MW of waste?heat recovery, taking total clean power capacity to one point eight one GW. Green energy met around 41 per cent of UltraTech’s power needs in FY2026 and the green mix rose to 43 per cent in the fourth quarter.

UltraTech said the investment will help meet its green energy requirements and comply with regulations applicable to captive power consumption under electricity laws. The company expects the acquisition to enable long?term price visibility and to support operational decarbonisation efforts at the Mungeli facilities. The SPV equity stake will complement existing long?term supply arrangements and internal generation.

By expanding equity exposure in solar generation UltraTech has signalled continued commitment to its renewable expansion roadmap. The transaction will be monitored until completion as part of the company’s broader energy transition programme.