UltraTech Cement to acquire 26% stake in Solaris Horizon Energy

UltraTech Cement has announced plans to acquire a 26 percent equity stake in Solaris Horizon Energy Private Limited for up to ₹27.75 crore. The investment, which will be made entirely through cash, is intended to secure solar power on a captive basis for the company’s manufacturing plants in the Mungeli district of Chhattisgarh.

Solaris Horizon Energy, a special purpose vehicle promoted by Waaree Forever Energies, is developing a 65 MW AC solar power project located in Village Puran. Under the signed Energy Supply Agreement, the project will supply 91 MWp DC of solar power to UltraTech. The acquisition is expected to be completed within 180 days.

This move is part of UltraTech’s broader strategy to increase its reliance on clean energy and optimize operating costs. In FY2026, the company commissioned 371 MW of renewable energy capacity, bringing its total installed renewable capacity to 1.39 GW. Green power accounted for approximately 41 percent of UltraTech’s total power requirements during that period.