UltraTech Cement Limited has announced plans to purchase a 26 percent equity share in Solaris Horizon Energy Private Limited. As part of its effort to increase the usage of renewable energy and lower power costs at its manufacturing sites, after an Energy Supply Agreement and a Share Subscription and Shareholders Agreement were signed, the corporation disclosed on August 12, 2026.
Operating as a subsidiary of Waaree Forever Energies Private Limited, Solaris Horizon Energy produces and transmits renewable solar energy. On December 10, 2025, the business was established in Mumbai as a special purpose vehicle (SPV). Since it was just incorporated, it has had no turnover over the previous three years.
Under the agreement, Solaris Horizon Energy will supply 91 MWp DC, equivalent to 65 MW AC, of solar power to UltraTech Cement on a captive basis. The renewable electricity will be generated from a dedicated solar project located at Village Puran in Mungeli district of Chhattisgarh. The power will be supplied to UltraTech Cement’s manufacturing plants in the state.
The acquisition is aimed at meeting the cement manufacturer’s increasing demand for renewable electricity, lowering operating energy costs and complying with regulatory requirements related to captive power consumption under Indian electricity laws.
UltraTech Cement intends to purchase a 26 percent ownership investment in Solaris Horizon Energy for up to Rs. 27.75 crore. Cash consideration will be used to make the total investment. According to the business, the deal does not qualify as a related party transaction. Additionally, it verified that Solaris Horizon Energy is not owned by its promoter group or any affiliated group entity.
Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, has been followed in disclosing the transaction. Dhiraj Kapoor, UltraTech Cement’s Compliance Officer and Company Secretary, signed the disclosure.
Subject to customary circumstances and any regulatory approvals needed under applicable electricity legislation, the transaction is anticipated to be finished within 180 days of the agreements being signed. The action supports UltraTech Cement’s larger focus on energy efficiency and sustainability while bolstering the company’s attempts to boost renewable electricity use.
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