UltraTech Cement has agreed to acquire a 26% stake in Solaris Horizon Energy Private Limited for up to INR 27.76 crore. The renewable energy special purpose vehicle (SPV) will supply 91 megawatt-peak direct current/65 megawatt alternating current solar power to the company’s Chhattisgarh plants on a captive basis. The acquisition aims to meet green energy requirements, optimise energy costs, and comply with captive power regulations.
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