UltraTech Cement to Procure Captive Solar Power from Ampin’s 30 MW Project in Odisha
UltraTech Cement will procure power from a 45 MW DC/30 MW AC captive solar project in Odisha being developed by AMPIN Energy Transition after acquiring a 26 percent stake in the project SPV AMPIN C&I Power Forty Four for INR 15.12 crore.
March 05, 2026. By Mrinmoy Dey
The company has entered into an energy supply agreement and share subscription and shareholders agreement to acquire 26 percent equity shares of the special purpose vehicle (SPEV) AMPIN C&I Power Forty Four.
The company will make an equity investment of INR 15.12 crore, it said in a regulatory filing. “The acquisition is for the purposes of meeting the company’s green energy needs, optimising energy cost, and complying with regulatory requirements for captive power consumption under electricity laws,” it said.
The SPV will be setting up a 45 MWp DC/30 MW AC solar power project, on a captive basis with battery storage, at Golamunda, in the Kalahandi district of Odisha.
UltraTech, in its 2024–25 Integrated and Sustainability Report, reaffirmed its RE100 target of sourcing 100 percent of its energy from renewable sources by 2050. As of FY2025, the company’s renewable energy capacity stood at 1.02 GW, accounting for about 27.8 percent of its total energy mix, with plans to increase this share to 85 percent by 2030.
In April 2025, UltraTech Cement announced that it would acquire a 26 percent stake in AMPIN C&I Power Eight, an AMPIN Energy Transition SPV, for INR 25.5 crore to source power from a 75 MW DC/50 MW AC solar project being developed in Rajasthan under the captive model.
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