UltraTech Cement to Procure Captive Solar Power from Sunsure’s 14 MW Project in Maharashtra
UltraTech Cement will procure power from a 21 MW DC/14 MW AC captive solar project with battery storage in Maharashtra, being developed by Sunsure Energy. The company will acquire a 26.20 percent stake in the project SPV Sunsure Solarpark Thirty Eight for INR 6.72 crore.
March 12, 2026. By Mrinmoy Dey
The company has entered into an energy supply agreement and share subscription and shareholders agreement to acquire 26.20 percent equity shares of the special purpose vehicle (SPEV) Sunsure Solarpark Thirty Eight.
The company will make an equity investment of INR 6.72 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 21 MWp DC/14 MW AC solar power project, on a captive basis with battery storage, at Dhule, Maharashtra.
Earlier this month, UltraTech Cement announced that it 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
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.
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.
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