Acquisitions12 Aug 2026, 05:14 pm
UltraTech Cement Acquires 26% Stake in Solaris Horizon Energy
AI Summary
UltraTech Cement Ltd has entered into agreements to acquire a 26% equity share capital in Solaris Horizon Energy Private Limited, a renewable energy firm. This strategic acquisition aims to meet UltraTech's green energy requirements, optimize energy costs, and comply with regulatory mandates for captive power consumption. The deal involves a cash consideration of up to ₹27.75 crore and is expected to be completed within 180 days. Solaris Horizon Energy will supply 91 MWp DC / 65 MW AC solar power to UltraTech's plants in Chhattisgarh.
Key Highlights
- Acquisition of 26% equity in Solaris Horizon Energy for green energy needs.
- Investment of up to ₹27.75 crore via cash consideration.
- Deal to be completed within 180 days.
- Enhances captive power consumption and optimizes energy costs.
- Solaris Horizon Energy to supply 65 MW AC solar power.
Price Impact
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