UltraTech Cement To Buy 26% In Solaris Horizon, Deal To Support Green Energy Needs

Mumbai: UltraTech Cement has signed agreements to acquire a 26 percent stake in Solaris Horizon Energy Private Limited for up to Rs 27.76 crore in cash.

The company informed the stock exchanges about the proposed investment on 12 August 2026.

Solaris Horizon is a subsidiary of Waaree Forever Energies Private Limited. It is involved in the generation and transmission of renewable energy, with a focus on solar power.

Power For Chhattisgarh Plants

The company has been set up to supply solar power to UltraTech Cement’s plants in Chhattisgarh for their own use. The power will come from a solar project located at Puran village in Mungeli district, Chhattisgarh.

The project will have a capacity of 91 megawatt peak on the solar generation side and 65 megawatts of usable power. This supply is expected to help UltraTech increase the use of cleaner energy at its manufacturing plants.

Lower Energy Costs

UltraTech said the investment will help meet its green energy needs and lower energy costs. It will also allow the cement maker to meet legal requirements linked to the use of power generated for its own operations.

The acquisition will be completed through an equity investment. UltraTech will pay up to Rs 27,75,50,000 for the 26 percent shareholding in Solaris Horizon.

Deal Timeline

The transaction is expected to be completed within 180 days from the signing of the energy supply, share subscription and shareholders’ agreements.

UltraTech said the proposed deal is not a related-party transaction. Its promoters, promoter group and group companies have no interest in Solaris Horizon or the planned acquisition.

Solaris Horizon was incorporated on 10 December 2025 and has its registered office in Mumbai. As it is a newly formed company created for this solar project, it has reported no turnover in the past three years.

The investment strengthens UltraTech’s efforts to secure renewable power for its cement operations while managing electricity expenses over the coming years.