UltraTech Cement Limited has entered into agreements to acquire a 26.18% equity stake in Sunsure Solarpark Seven Private Limited. The acquisition, valued at an equity investment of up to ₹19.20 crore, is a strategic move to secure renewable energy supply. This transaction aims to meet the company’s green energy needs, optimize energy costs, and ensure compliance with captive power consumption regulations under electricity laws.
Strategic Acquisition for Green Energy Compliance
UltraTech Cement Limited announced on 18th March 2026 its intention to acquire a minority stake in Sunsure Solarpark Seven Private Limited. This strategic investment grants the company 26.18% of the equity share capital of the target entity, which is engaged in the generation and transmission of renewable energy, specifically solar power.
Rationale and Objectives
The primary drivers behind this acquisition are multifaceted. The company seeks to secure its green energy needs, achieve optimal energy cost management, and crucially, comply with the regulatory mandates concerning captive power consumption as stipulated by existing electricity laws. The deal structure involves an Energy Supply Agreement alongside the Share Subscription and Shareholders Agreement.
Transaction Details
The consideration for this acquisition is a Cash consideration, equating to an Equity investment of up to Rs. 19,20,00,000/- (Rupees Nineteen Crore Twenty Lakhs Only). The transaction is confirmed not to be a related party transaction, and the acquisition is expected to be completed within 180 days of signing the definitive agreements.
Target Entity Background
Sunsure Solarpark Seven Private Limited, incorporated on 20th July 2022, operates as a Special Purpose Vehicle (SPV). Its core function is the development of a 60 MWp DC / 40 MW AC solar power project on a captive basis in Charkhari, Uttar Pradesh. Notably, this solar project will be integrated with a Battery Energy Storage System (BESS), enhancing its operational capabilities. The target entity currently reports Nil turnover for the last three financial years.
Source: BSE
