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

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..