Cement News tagged under: O2 Renewable Energy XXII

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UltraTech to buy stake in clean energy plant

28 March 2024, Published under Cement News

Indian cement producer UltraTech , part of the Aditya Birla Group , will by a 26 per cent stake in O2 Renewable Energy XXII for approximately INR160m to meet the energy requirements of its cement plants. New Delhi-based O2 is planning a 35-48MW solar power plant in Karnataka, India. The acquisition is part of UltraTech's investments in clean power sources. The share purchase of O2 is also to optimise energy costs and comply with regulatory requirements in terms of captive power consump...