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UltraTech Cement Expands Green Energy Portfolio with New Solar Project Investment

UltraTech Cement, part of the Aditya Birla Group, is stepping up its green energy goals by partnering with AMPIN Energy Transition. The company will invest Rs25.5 crore to acquire a 26% stake in AMPIN’s special purpose vehicle (SPV), AMPIN C&I Power Eight. This SPV was formed to build a 75 MW DC (50 MW AC) captive solar power project in Sindhari village, Balotara district, Rajasthan. The acquisition is expected to be completed within 180 days.

This move supports UltraTech’s strategy to meet its renewable energy needs, reduce power costs, and comply with Indian laws related to captive energy consumption. It’s also aligned with the company’s broader sustainability goals. As of FY24, UltraTech has already increased its renewable energy capacity by 77% over the previous year, reaching 890 MW in green energy capacity, including 612 MW of pure renewables. This allowed them to meet 22% of their power needs with clean energy.

The company plans to raise its green energy capacity to 1,000 MW and reach 85% renewable energy use by 2030. Earlier, UltraTech invested in floating solar at its Awarpur plant and entered similar deals with CleanMax and Continuum for solar and hybrid wind power.