UltraTech Cement Acquires 26% Stake in Solar SPV AMPIN C&I

17 Apr 2025 , 12:59 PM

UltraTech Cement Ltd. has announced the acquisition of a 26% equity stake in AMPIN C&I Power Eight Private Limited, a special purpose vehicle (SPV) focused on renewable energy. The investment of ₹25.5 crore is proposed to enhance UltraTech’s green energy portfolio to further its long-term sustainability objectives.

AMPIN C&I Power Eight was incorporated on January 29, 2025, with a primary objective of generating and transmitting solar power. The SPV is in the process of establishing a 75 MWp DC / 50 MW AC solar energy project at Village Sindhari, District Balotara, Rajasthan.

Such strategic acquisition would allow UltraTech to reduce its power expenses to the optimum extent and comply with regulatory norms pertaining to captive usage of power in accordance with laws governing electricity in India. It made it clear that the transaction is not an associate party deal and the promoters do not have any financial stakes in AMPIN C&I Power Eight.

The acquisition is expected to be completed within 180 days post completion of Energy Supply Agreement and Share Subscription & Shareholders Agreement. This step is part of UltraTech’s larger drive toward the adoption of renewable energy, with a view to optimize operational efficiency and minimize its ecological footprint.

UltraTech, by adding solar power to its operations, keeps making progress towards its ESG (Environmental, Social, and Governance) goals while also contributing to India’s green energy shift.