UltraTech Cement Acquires 13.99% Stake in FPEL Services

UltraTech Cement has acquired a 13.99% equity stake in FPEL SERVICES PRIVATE LIMITED, a renewable energy company, through an Energy Supply Agreement and Share Subscription and Shareholders Agreement. This strategic move aims to meet UltraTech's green energy needs, optimize energy costs, and comply with regulatory requirements for captive power consumption. Additionally, UltraTech's subsidiary, The India Cements Limited, has acquired a 12.48% stake in FPEL. The total investment by UltraTech Cement is Rs. 12,08,90,000. FPEL is a special purpose vehicle that will supply 15.70 MW AC wind power to UltraTech's plants in Tamil Nadu.