UltraTech Cement To Acquire 26.20 Percent Stake In Sunsure Solarpark Thirty Eight For Green Energy Needs

Mumbai: UltraTech Cement is stepping up its renewable energy push with a strategic investment in a solar power project that will help meet its growing green energy requirements. UltraTech Cement Limited announced that it has entered into an Energy Supply Agreement along with a Share Subscription and Shareholders Agreement to acquire 26.20 percent equity shares in Sunsure Solarpark Thirty Eight Private Limited. The investment, valued at up to Rs 6.72 crore, will be made through cash consideration. The acquisition is intended to support the company’s transition toward cleaner energy while ensuring compliance with electricity laws governing captive power consumption. Sunsure Solarpark Thirty Eight Private Limited operates in the renewable energy sector, specifically in the generation and transmission of solar power. The entity has been established as a special-purpose entity to develop a 21 MWp DC / 14 MW AC solar power project in Dhule, Maharashtra. The project will also incorporate an integrated battery energy storage system, allowing the solar facility to store energy and deliver a more stable power supply. UltraTech Cement said the investment aligns with its goal of meeting green energy needs while optimizing long-term energy costs. By securing access to captive renewable power, the company also aims to comply with regulatory requirements under electricity laws that encourage industrial consumers to use clean energy sources. The proposed acquisition is not categorized as a related-party transaction, and the company’s promoter or promoter group entities have no interest in the target entity. According to the disclosure, the acquisition is expected to be completed within 120 days from the execution of the Energy Supply Agreement and the Share Subscription and Shareholders Agreement. Sunsure Solarpark Thirty Eight Private Limited was incorporated on November 27, 2024, and currently reports no turnover for the financial year 2024–25. The company is headquartered in Gurugram, Haryana, and operates within India’s renewable energy sector. The investment reflects UltraTech Cement’s broader strategy of integrating renewable energy solutions into its operations while strengthening energy security and sustainability initiatives.