UltraTech Cement Acquires 26.20% Stake in Sunsure Solarpark Thirty Eight Private Limited for Rs. 6,72,00,000

UltraTech Cement Ltd has entered into an Energy Supply Agreement and Share Subscription and Shareholders Agreement to acquire 26.20% equity shares of Sunsure Solarpark Thirty Eight Private Limited. The acquisition is aimed at meeting the company’s green energy needs, optimising energy costs, and complying with regulatory requirements for captive power consumption under electricity laws. The cost of acquisition is Rs. 6,72,00,000. Sunsure Solarpark Thirty Eight Private Limited is a special purpose vehicle for setting up a 21 MWp DC / 14 MW AC solar power project in Dhule, Maharashtra, India.