UltraTech to acquire 26 pc stake of AMPIN C&I Power Eight

New Delhi, Apr 16 (PTI) India's leading cement maker UltraTech Cement on Wednesday said it will acquire 26 per cent equity shares of renewable energy generation and transmission firm AMPIN C&I Power Eight.

The acquisition, aimed at meeting the company's green energy needs, will have an equity investment of up to Rs 25.50 crore, according to a regulatory filing from the Aditya Birla Group company.

"The company has entered into an energy supply agreement and share subscription and shareholders agreement and to acquire 26 per cent equity shares of AMPIN C&I Power Eight, a company engaged in generation and transmission of renewable energy," it added.

This will also optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws, it said.

Incorporated on January 29, 2025, AMPIN C&I Power Eight is a special-purpose vehicle for setting up a 75 MWp DC / 50 MW AC solar power project at Village Sindhari, District – Balotara, Rajasthan.

Ultratech, a USD 8.4 billion building solutions company, is the third-largest cement producer in the world, outside of China, with a consolidated grey cement capacity of 183.06 MTPA. PTI KRH KRH BAL BAL