UltraTech Cement to Acquire 26 Percent Stake in AMPIN C&I Power Eight Pvt Ltd for Green Energy
UltraTech Cement has acquired a 26 percent stake in AMPIN C&I Power Eight Pvt Ltd to meet green energy needs, optimise costs, and comply with regulatory requirements for captive power consumption.
April 17, 2025. By EI News Network
The acquisition is part of UltraTech's strategy to meet its green energy requirements, optimize energy costs, and ensure compliance with regulatory requirements for captive power consumption under electricity laws.
The deal was formalised through the signing of an Energy Supply Agreement and a Share Subscription and Shareholders Agreement. AMPIN C&I Power Eight Pvt Ltd, which is a special purpose vehicle (SPV), is setting up a 75 MWp DC / 50 MW AC solar power project in Rajasthan. The project is designed to operate on a captive basis in Village Sindhari, District Balotara, Rajasthan.
As per the agreement, UltraTech Cement will invest a total of INR 25.5 crore (approximately USD 3 million) in the acquisition. The transaction is expected to be completed within 180 days from the execution of the agreements. AMPIN C&I Power Eight Pvt Ltd, incorporated on January 29, 2025, is a newly established entity with no prior turnover, as it is a special purpose vehicle.
The project aligns with UltraTech’s commitment to reducing its carbon footprint and contributing to India’s renewable energy goals. The move underscores UltraTech’s continued efforts to embrace sustainable energy solutions and strengthen its green energy portfolio.
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