UltraTech Cement to Acquire 26% Stake in Solaris Horizon Energy for ₹27.76 Crore
UltraTech Cement Limited has entered into agreements to acquire a 26% equity stake in Solaris Horizon Energy Private Limited, a renewable energy company that will supply solar power to UltraTech’s manufacturing plants in Chhattisgarh.
The proposed investment of up to ₹27.76 crore is aimed at strengthening UltraTech Cement’s green energy sourcing, optimising energy costs and meeting regulatory requirements related to captive power consumption.
UltraTech Cement Expands Renewable Energy Footprint
UltraTech Cement has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement with respect to Solaris Horizon Energy Private Limited.
Under the proposed transaction, UltraTech will acquire 26% of the equity share capital of Solaris Horizon Energy.
The investment will be made through cash consideration, with the total equity investment capped at ₹27.755 crore.
The acquisition is expected to be completed within 180 days from the execution of the Energy Supply Agreement and Share Subscription and Shareholders Agreement.
Solaris Horizon Energy to Supply 91 MWp Solar Power
Solaris Horizon Energy has been established as a special purpose vehicle (SPV) for supplying renewable power to UltraTech Cement.
The company will supply 91 MWp DC / 65 MW AC of solar power to UltraTech’s plants in Chhattisgarh on a captive basis.
The solar power will be generated from a project located at Village Puran, Tehsil & District Mungeli, Chhattisgarh.
This arrangement will allow UltraTech to increase the share of renewable energy in its power consumption while supporting its efforts to optimise energy costs.
Key Details of the Acquisition
UltraTech Cement will acquire a 26% stake in Solaris Horizon Energy for an equity investment of up to ₹27.75 crore.
The target company is a subsidiary of Waaree Forever Energies Private Limited and operates in the generation and transmission of renewable energy, particularly solar power.
Solaris Horizon Energy was incorporated on December 10, 2025, and has its registered office in Borivali East, Mumbai, Maharashtra.
The company reported nil turnover for the last three financial years, according to the disclosure.
Why UltraTech Is Investing in Solar Power
UltraTech Cement stated that the acquisition is being undertaken for three key reasons.
First, the investment will help the company meet its green energy requirements.
Second, increased renewable power sourcing is expected to help optimise energy costs.
Third, the arrangement will support UltraTech’s need to comply with regulatory requirements relating to captive power consumption under electricity laws.
For a power-intensive industry such as cement manufacturing, energy costs are an important component of operating expenses. Increasing the use of renewable energy can therefore form an important part of the company’s long-term energy strategy.
No Related Party Transaction
UltraTech Cement stated that the proposed acquisition is not a related party transaction.
The company also confirmed that its promoter, promoter group and group companies have no interest in the proposed acquisition.
Acquisition Through Cash Consideration
The transaction will be funded through cash consideration.
UltraTech Cement will make an equity investment of up to ₹27,75,50,000, equivalent to ₹27.755 crore, for the 26% stake in Solaris Horizon Energy.
The investment will provide UltraTech with an equity interest in the SPV responsible for supplying renewable solar power to its Chhattisgarh plants.
Strategic Importance for UltraTech Cement
The transaction is strategically relevant because it combines renewable energy generation with captive power consumption.
Solaris Horizon Energy’s planned solar project is specifically structured to supply power to UltraTech’s facilities in Chhattisgarh.
The arrangement could help UltraTech increase its renewable energy consumption while potentially improving the economics of its power procurement.
The investment also supports the company’s broader transition toward greater use of renewable energy in its operations.
UltraTech Cement’s proposed ₹27.76 crore investment for a 26% stake in Solaris Horizon Energy represents a strategic move to strengthen its renewable energy sourcing.
Solaris Horizon Energy will operate as a special purpose vehicle supplying 91 MWp DC / 65 MW AC solar power to UltraTech’s Chhattisgarh plants on a captive basis.
The acquisition will be made through cash consideration and is expected to be completed within 180 days of execution of the relevant agreements.
For UltraTech, the transaction is focused on meeting green energy requirements, optimising energy costs and complying with captive power regulations, while increasing the company’s access to renewable solar power.
Source: UltraTech Cement Limited regulatory disclosure dated August 12, 2026. This article is based on the information provided in the company’s filing and is for informational purposes only, not investment advice.