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UltraTech Cement has signed definitive agreements to acquire a 26% equity stake in Solaris Horizon Energy, a subsidiary of Waaree Forever Energies, for up to Rs 27.75 crore. The strategic investment establishes a captive solar power arrangement to supply 65 MW AC (91 MWp DC) to UltraTech's manufacturing units in Chhattisgarh. This initiative is designed to drive energy-cost optimization, boost the company's green-energy share, and meet regulatory captive consumption standards.
News by Rahul Yelligetti.
