UltraTech Cement has signed an agreement to procure renewable energy from a 60MW solar project integrated with battery storage, as part of its ongoing decarbonisation and energy cost optimisation strategy.
The project will be developed by Sunsure Energy, with UltraTech set to acquire a 26.18 per cent equity stake in the special purpose vehicle for an investment of approximately INR192m (US$2.1m).
Power generated from the facility will be supplied to UltraTech under a captive arrangement, supporting the company’s efforts to increase the share of renewable energy in its operations while ensuring reliable power through the inclusion of battery storage.
