UltraTech Cement To Buy 26% In Solaris Horizon, Deal To Support Green Energy Needs
Mumbai: UltraTech Cement has signed agreements to acquire a 26 percent stake in Solaris Horizon Energy Private Limited for up to Rs 27.76 crore in cash. The company informed the stock exchanges about the proposed investment on 12 August 2026. Solaris Horizon is a subsidiary of Waaree Forever Energies Private Limited. It is involved in the generation and transmission of renewable energy, with a…
Mumbai, August 12, 2026 - Cement giant UltraTech has reached an agreement to acquire a 26% stake in Solaris Horizon Energy Private Limited, a subsidiary of Waaree Forever Energies Private Limited, for up to Rs 27.76 crore in cash. The investment is aimed at providing solar power to UltraTech's plants in Chhattisgarh, with a focus on reducing energy costs and meeting legal requirements for clean energy usage.
Solaris Horizon is set to generate and transmit renewable energy, with a project capacity of 91 megawatt peak on the solar generation side and 65 megawatts of usable power. This power will serve UltraTech's cement manufacturing plants in the region, contributing to a cleaner energy mix and potential cost savings.
The equity investment, valued at up to Rs 27,75,50,000, is expected to be finalized within 180 days from the signing of related agreements. UltraTech emphasizes that this deal is not a related-party transaction, with no interest from its promoters, promoter group, or group companies in Solaris Horizon or the acquisition.
Founded on December 10, 2025, Solaris Horizon has yet to report any turnover in its three-year history, as it was specifically established for this solar project. The investment bolsters UltraTech's commitment to securing renewable power for its operations while managing electricity expenses in the future.
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