Acquisitions18 Mar 2026, 04:09 pm
UltraTech Cement Acquires 26.18% Stake in Sunsure Solarpark Seven for Rs. 19.2 Crores
AI Summary
UltraTech Cement Ltd. has entered into an Energy Supply Agreement and Share Subscription and Shareholders Agreement to acquire 26.18% equity shares of Sunsure Solarpark Seven Private Limited. The acquisition is for meeting the company’s green energy needs, optimizing energy cost, and complying with regulatory requirements for captive power consumption under electricity laws. The cost of acquisition is Rs. 19.2 crores. Sunsure Solarpark Seven Private Limited is a special purpose vehicle for setting up a 60 MWp DC / 40 MW AC solar power project in Uttar Pradesh, India.
Key Highlights
- UltraTech Cement to acquire 26.18% equity shares of Sunsure Solarpark Seven Private Limited
- Acquisition is for meeting green energy needs, optimizing energy cost, and complying with regulatory requirements
- The cost of acquisition is Rs. 19.2 crores
- Sunsure Solarpark Seven Private Limited is a special purpose vehicle for setting up a 60 MWp DC / 40 MW AC solar power project
- The acquisition is not a related party transaction