UltraTech Cement Limited has announced plans to acquire a 26% equity stake in AMPIN C&I Power Forty Four Private Limited as part of its strategy to expand renewable energy use in its operations and manage long-term power costs.
The target company is a special purpose vehicle (SPV) established to develop and operate a solar power project integrated with battery energy storage. The facility will have a planned capacity of 45 MWp DC / 30 MW AC and will be located in Golamunda. The project is intended to function as a captive power plant supplying electricity to support UltraTech Cement’s operational energy requirements.
AMPIN C&I Power Forty Four Private Limited was incorporated on August 12, 2025, and therefore has not recorded any revenue for the past three financial years. Despite its recent establishment, the SPV is expected to play an important role in UltraTech’s long-term sustainability and energy transition strategy.
UltraTech Cement said it will invest up to ₹15.12 crore in the SPV through cash consideration. To formalise the transaction, the company has entered into an Energy Supply Agreement along with a Share Subscription and Shareholders Agreement with the project entity.
According to the company, the acquisition is expected to be completed within 180 days from the execution of these agreements.
The investment will enable UltraTech to secure renewable power supply for its operations while complying with regulatory requirements governing captive power consumption under Indian electricity regulations. By sourcing electricity from a dedicated solar power project, the company aims to reduce exposure to volatile energy prices while advancing its sustainability and carbon reduction goals.
The disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. UltraTech also clarified that the transaction does not involve related-party interests and that neither the promoters nor promoter group entities hold any stake in the SPV.
