Ultratech Cement Acquires 26% Stake In AMPIN C&I Power Forty Four For 45 MW Solar Project With Battery Storage In Odisha

UltraTech Cement Limited has announced a strategic step to strengthen its renewable energy portfolio by acquiring a 26% equity stake in AMPIN C&I Power Forty Four Private Limited. The move is part of the company’s broader plan to increase the use of green energy in its operations while also managing long-term power costs.

The target company, AMPIN C&I Power Forty Four Private Limited, is a Special Purpose Vehicle (SPV) that focuses on the generation and transmission of solar power. The SPV has been set up to develop a 45 MWp DC / 30 MW AC solar power project integrated with battery energy storage. The project will be located in Golamunda in the Kalahandi district of Odisha and is designed to operate as a captive power plant to supply electricity for UltraTech’s operational needs.

Since the SPV was recently incorporated on August 12, 2025, it does not have any recorded turnover for the last three financial years. Despite this, the project forms an important part of UltraTech’s long-term sustainability and energy management strategy.

UltraTech Cement has confirmed that the investment will be made through a cash consideration of up to ₹15.12 crore. To complete 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 process is expected to be completed within 180 days from the signing of these agreements.

The investment will help UltraTech meet its growing green energy requirements while also ensuring compliance with regulatory norms related to captive power consumption under Indian electricity regulations. By securing a dedicated solar power source, the company aims to reduce exposure to fluctuating energy prices and support its broader sustainability and carbon reduction goals.

UltraTech also clarified that the transaction does not involve any related party interests. The promoters and promoter group companies do not have any existing stake in the SPV. The disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.