UltraTech Cement To Acquire 26% Stake In Renewable Energy Firm

UltraTech Cement on Wednesday, said it has signed an energy supply agreement and a share subscription and shareholders agreement to acquire a 26% stake in renewable energy generation and transmission firm AMPIN C&I Power Eight for up to ₹255 million.

The deal aims to help UltraTech meet its green energy requirements, optimise energy costs, and comply with regulatory norms for captive power consumption under electricity laws, the company said in an exchange filing.

The acquisition is expected to be completed within 180 days.