UltraTech to buy 26 per cent stake in solar SPV for Rs 255M

21 Apr 2025 CW Team

UltraTech Cement will acquire a 26 per cent equity stake in AMPIN C&I Power Eight Pvt Ltd for up to Rs 255 million, the company said on April 16. The move is aimed at boosting its renewable energy portfolio and securing green power for captive use.

AMPIN C&I Power Eight, incorporated in January 2025, is a special purpose vehicle (SPV) setting up a 75 MWp DC / 50 MW AC solar project at Sindhari in Rajasthan’s Balotara district.

UltraTech said the deal is not a related party transaction and that the company’s promoters have no interest in the SPV. The acquisition is expected to close within 180 days from signing the Energy Supply and Shareholders Agreements.

The investment will help UltraTech meet its energy needs more efficiently, lower costs, and comply with captive power norms under electricity laws.

The move is in line with UltraTech’s long-term sustainability push as it looks to integrate more renewable sources across its operations.

Image source:pv-magazine-india

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