UltraTech Cement Limited announced its acquisition of a 26% equity stake in Solaris Horizon Energy Private Limited, a company specializing in renewable energy generation and transmission. This strategic move aims to meet the company’s green energy requirements, optimize energy costs, and comply with regulatory mandates for captive power consumption. The transaction involves an equity investment of up to ₹27.75 crore.
UltraTech Cement Expands Renewable Energy Footprint
UltraTech Cement Limited has entered into agreements to acquire a 26% equity share capital in Solaris Horizon Energy Private Limited. This subsidiary of Waaree Forever Energies Private Limited is engaged in the generation and transmission of renewable energy, specifically solar power.
Strategic Rationale for Acquisition
The acquisition is primarily driven by UltraTech Cement’s need to secure its green energy requirements, optimize energy costs, and adhere to regulatory obligations concerning captive power consumption under electricity laws. The company views this as a crucial step towards sustainable operations and cost efficiency.
Transaction Details
The total consideration for this acquisition is an equity investment of up to ₹27,75,50,000 (Rupees Twenty Seven Crore Seventy Five Lakhs Fifty Thousand Only). The proposed acquisition is not a related party transaction, and neither the promoter nor any promoter group or group companies have any interest in the entity being acquired.
Target Entity Background
Solaris Horizon Energy Private Limited is a special purpose vehicle incorporated on December 10, 2025. The company is set to supply 91 MWp DC / 65 MW AC solar power to UltraTech Cement’s plants in Chhattisgarh on a captive basis. Its registered office is located at 602, Western Edge 1, Western Express Highway, Borivali East, Mumbai. The company reported Nil turnover for the last three years prior to its incorporation date.
Deal Timeline
The completion of this acquisition is expected within 180 days from the execution of the Energy Supply Agreement and the Share Subscription and Shareholders Agreement.
Source: BSE
