UltraTech Cement acquires 26% stake in AMPIN C&I Power Eight

UltraTech Cement (BSE: 532538) has announced the acquisition of a 26% equity stake in AMPIN C&I Power Eight Private Limited, a company specializing in renewable energy generation and transmission. The acquisition is structured through an Energy Supply Agreement, Share Subscription, and Shareholders Agreement. The move is aimed at fulfilling UltraTech's increasing green energy requirements, optimizing energy costs, and ensuring compliance with regulatory standards for captive power consumption under electricity laws. UltraTech will invest up to INR 25,50,00,000 in this acquisition. AMPIN C&I Power Eight, incorporated on January 29, 2025, is developing a 75 MWp DC / 50 MW AC solar power project in Rajasthan. The acquisition is expected to be completed within 180 days from the agreement execution.