UltraTech Cement Acquires 26.20% Stake in Solar Power Company for Rs. 6.72 Crore
UltraTech Cement Acquires 26.20% Stake in Solar Power Company for Rs. 6.72 Crore is drawing significant interest across the industry.
UltraTech Cement Limited has announced the acquisition of a 26.20% equity stake in Sunsure Solarpark Thirty Eight Private Limited for Rs. 6.72 crore through cash consideration. The target company is a special purpose vehicle developing a 21 MWp DC / 14 MW AC solar power project with integrated battery energy storage system at Dhule, Maharashtra. The acquisition aims to meet UltraTech's green energy needs, optimize energy costs, and ensure regulatory compliance for captive power consumption, with completion expected within 120 days.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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