UltraTech Cement is expanding its renewable energy portfolio with plans to procure 65 MW of solar power through a captive solar project in Chhattisgarh.
The Aditya Birla Group company will invest up to ₹277.55 million (₹27.76 crore) to acquire a 26% stake in Solaris Horizon Energy, a special purpose vehicle (SPV) of Waaree Forever Energies. The solar project will supply renewable electricity on a captive basis to UltraTech Cement’s operations in Mungeli district, Chhattisgarh.
The acquisition is expected to be completed within 180 days, subject to applicable conditions.
Key Highlights
- 65 MW captive solar project
- ₹27.76 crore investment
- 26% stake in Solaris Horizon Energy
- Project located in Chhattisgarh
- Solar power to support UltraTech’s Mungeli operations
- Acquisition expected to close within 180 days
- UltraTech commissioned 371 MW of renewable capacity in FY2026
- Installed renewable capacity reached 1.39 GW
- Green energy contributed around 41% of power requirements in FY2026
- Target of 85% green-energy share by 2030
The investment aligns with UltraTech Cement’s broader decarbonisation strategy and its efforts to increase the use of renewable power across its operations. With an 85% green-energy target for 2030, the new captive solar project adds further momentum to the company’s clean-energy transition.
