UltraTech Cement, a leading Indian cement producer, has announced a significant investment of ₹27.75 crore to acquire a 26% equity stake in Solaris Horizon Energy. This special purpose vehicle (SPV), promoted by Waaree Forever Energies, is currently developing a 65 MW solar power project in Chhattisgarh.
The investment is part of UltraTech's broader strategy to enhance its green energy capabilities. By acquiring a stake in Solaris Horizon Energy, UltraTech will be able to source solar power on a captive basis, directly supplying electricity to its plants located in the Mungeli district of Chhattisgarh.
Boosting Renewable Energy Capacity
This strategic acquisition is expected to be finalized within 180 days of the agreement's execution. UltraTech Cement highlighted that the investment serves multiple purposes: meeting its growing green energy requirements, optimizing operational energy costs, and ensuring compliance with regulatory mandates for captive power consumption under Indian electricity laws.
The company has been aggressively expanding its renewable energy footprint. During the financial year 2026, UltraTech commissioned an additional 371 MW of renewable energy capacity, bringing its total installed renewable energy capacity to an impressive 1.39 GW. Furthermore, the company added 63 MW of waste-heat recovery capacity, elevating its total clean power capacity to 1.81 GW.
Commitment to Sustainable Operations
UltraTech Cement's commitment to sustainability is evident in its energy mix. In FY2026, green energy sources accounted for approximately 41% of the company's total power requirements. This proportion further increased to 43% in the fourth quarter of FY2026, demonstrating a consistent shift towards cleaner and more sustainable energy solutions for its operations.