UltraTech Cement to Buy 26.2% Stake in Sunsure Solarpark Thirty Eight
UltraTech Cement has signed an energy supply agreement along with a share subscription and shareholders agreement to acquire a 26.20% equity stake in Sunsure Solarpark Thirty Eight. The move is aimed at meeting the company’s growing green energy requirements for its operations while also optimising energy costs and complying with regulatory norms related to captive power consumption.
The transaction will be completed through a cash investment of up to ₹6.72 crore. Sunsure Solarpark Thirty Eight, incorporated in November 2024, will develop a 21 MWp DC/14 MW AC solar power project with an integrated battery energy storage system in Dhule, Maharashtra. UltraTech Cement expects to complete the acquisition within 120 days after executing the key agreements.
Separately, UltraTech Cement’s board has approved the appointment of Jayant Dua as managing director (designate) from April 1, 2026. He will take over as managing director after the tenure of current MD K. C. Jhanwar ends on December 31, 2026. Meanwhile, UltraTech Cement shares closed 2.56% lower at ₹11,986.75 on the BSE on Friday.
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