UltraTech Cement Signs Pacts to Acquire 26% Stake in AMPIN C&I Power for ₹151.2 Million

UltraTech Cement has entered into definitive agreements to acquire a 26% equity stake in AMPIN C&I Power Forty Four Private Limited for a cash consideration of up to ₹151.2 million., according to a regulatory filing to exchanges.  The transaction is designed to secure green energy supplies and comply with regulatory requirements for captive power consumption under electricity laws.

The deal involves the purchase of equity shares in the renewable energy special purpose vehicle (SPV) and is expected to be completed within 180 days from the execution of these agreements.

AMPIN C&I Power Forty Four is developing a 45 MWp DC / 30 MW AC solar power project. The facility will operate on a captive basis with battery storage and is located at Golamunda in the Kalahandi district of Odisha.

UltraTech Cement stated that the acquisition aligns with its objectives to meet green energy needs and optimise energy costs.