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UltraTech to Acquire 26% Stake in Solar Producer Solaris Horizon

UltraTech Cement logoUltraTech Cement
Sig2.65Sen+3.40Env+3.15Soc+0.90Gov+1.80

UltraTech Cement agreed to acquire a 26% stake in Solaris Horizon Energy Pvt Ltd for up to INR277.6m as part of expanding renewable power use. The 91MWp DC (65MW AC) solar project in Mungeli district will supply UltraTech cement plants in Chhattisgarh on a captive basis, via an energy supply and shareholder/subscription arrangement to meet green energy needs and captive power rules.

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