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News UltraTech Cement increases stake in Continuum MP Windfarm

UltraTech Cement increases stake in Continuum MP Windfarm

Written by Global Cement staff 02 October 2024
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India: UltraTech Cement will procure an additional 7MW of wind-solar hybrid power production capacity from Continuum MP Windfarm, increasing total procurement from 14MW to 21MW. This power is supplied from its 100MW project in Ratlam District in Madhya Pradesh. To facilitate this, UltraTech has raised its shareholding in Continuum MP Windfarm from 3.28% to 5.46% by investing approximately US$2.9m. The acquisition is expected to complete within 120 days following amendments to the power purchase Agreement, share purchase agreement, and shareholders agreement.

Last modified on 02 October 2024
Published in Global Cement News
Tagged under
  • India
  • UltraTech Cement
  • Stake
  • Shares
  • wind farm
  • renewable energy
  • GCW679
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