Archive · 12 Aug 2026
UltraTech Cement to Buy 26% of Solaris Horizon for Green Energy
A big company that makes cement wants to use more sunshine for its factories.
Cement is made in very hot ovens, which need a lot of electricity.
Making electricity from the sun is called solar power, and it is cleaner for the planet.
UltraTech Cement decided to buy a small part of another company that makes solar power.
That company is called Solaris Horizon, and it is building a solar farm in a place called Chhattisgarh.
The solar farm will be big enough to power UltraTech's cement plants in the same area.
UltraTech will pay almost 28 crore rupees for its share of the company.
Buying this share helps UltraTech get cheaper and cleaner electricity.
It also helps the company follow rules about using power made for its own use.
The whole deal should be finished within 180 days, which is about six months.
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.
Solaris Horizon, a subsidiary of Waaree Forever Energies Private Limited, is focused on renewable energy generation and transmission, mainly solar power.
The solar project is located at Puran village in Mungeli district, Chhattisgarh, with 91 megawatt peak generation capacity and 65 megawatts of usable power.
The power will be supplied to UltraTech Cement's plants in Chhattisgarh to help the company meet green energy needs, lower energy costs, and satisfy legal requirements.
The company informed stock exchanges on 12 August 2026, and the transaction is expected to be completed within 180 days of signing the agreements.
- Who
- UltraTech Cement and Solaris Horizon Energy Private Limited, a subsidiary of Waaree Forever Energies Private Limited.
- What
- UltraTech Cement agreed to acquire a 26 percent stake in Solaris Horizon for up to Rs 27.76 crore in cash to secure solar power for its plants.
- When
- The investment was announced to stock exchanges on 12 August 2026, with completion expected within 180 days of signing the agreements.
- Where
- The solar project is at Puran village in Mungeli district, Chhattisgarh; Solaris Horizon has its registered office in Mumbai.
- Why
- To help UltraTech meet its green energy needs, lower energy costs, and comply with legal requirements related to power generated for its own operations.
- Investor
- UltraTech Cement
- Stake Acquired
- 26 percent
- Investment Amount
- Up to Rs 27,75,50,000 (Rs 27.76 crore) in cash
- Target Company
- Solaris Horizon Energy Private Limited
- Parent Company
- Waaree Forever Energies Private Limited
- Project Location
- Puran village, Mungeli district, Chhattisgarh
- Solar Capacity
- 91 megawatt peak generation; 65 megawatts usable power
- Announcement Date
- 12 August 2026
- Completion Timeline
- Within 180 days of signing agreements