UltraTech Cement, an Aditya Birla Group company, has signed an energy supply agreement and a share subscription & shareholders’ agreement to procure power from Sunsure Solarpark Seven’s 60 MW captive solar project integrated with a battery energy storage system in Uttar Pradesh. UltraTech Cement will invest ₹192 million (~$2.07 million) to secure 26.18% stake in the special purpose vehicle (of Sunsure Energy. The acquisition is aimed at helping UltraTech Cement meet its green energy requirements, optimize energy costs, and comply with captive power regulations under electricity laws.
