UltraTech Cement to Acquire 26% Stake in AMPIN C&I Power Forty Four Private Limited for Rs. 15 Crore

UltraTech Cement Ltd. has entered into an Energy Supply Agreement and Share Subscription and Shareholders Agreement to acquire 26% equity shares of AMPIN C&I Power Forty Four Private Limited. The acquisition is aimed at meeting the company's green energy needs, optimising energy cost, and complying with regulatory requirements for captive power consumption under electricity laws. The cost of acquisition is up to Rs. 15,12,00,000. AMPIN C&I Power Forty Four Private Limited is a special purpose vehicle for setting up a 45 MWp DC / 30 MW AC solar power project in Odisha, India.