UltraTech to invest in 75 MWp solar project with AMPIN Energy in Rajasthan
UltraTech Cement has entered into an agreement with AMPIN Energy Transition to set up a captive solar power project in Rajasthan.
The project will be developed at Sindhari village in Balotara. It will have a capacity of 50 MW (75 MWp) and will be executed through AMPIN C&I Power Eight, a special purpose vehicle (SPV) of AMPIN Energy.
UltraTech will invest Rs 255 million to acquire a 26 per cent equity stake in the SPV. The acquisition is expected to be completed by October 2025.
The agreements include both an Energy Supply Agreement and a Share Subscription and Shareholders Agreement.
