UltraTech Cement has entered into Power Purchase Agreement and Share Subscription and Shareholders Agreement with intention to acquire 26% equity shares of Amplus Omega Solar, a company engaged in generation and transmission of renewable energy. The acquisition is for the purpose of meeting the company’s green energy needs, optimising energy cost and comply with regulatory requirements for captive power consumption under electricity laws. Cost of acquisition is Rs 24.30 crore.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.
