UltraTech Cement and its subsidiary India Cements have entered into agreements with Fourth Partner Energy to procure a combined 29.7 MW of captive wind power from a wind energy project being developed in Karur, Tamil Nadu.
As part of the arrangement, both companies will acquire a cumulative 26.47 percent stake in the project’s special purpose vehicle (SPV), FPEL Services. UltraTech Cement will invest approximately INR 12.09 crore to acquire a 13.99 percent stake, while India Cements will invest around INR 10.78 crore for a 12.48 percent stake.
Under the captive power arrangement, UltraTech Cement will source 15.7 MW of wind power for its operations in Tamil Nadu, while India Cements will procure the remaining 14 MW. The transaction is expected to be completed within the next six months.
The move aligns with the companies’ ongoing efforts to increase renewable energy usage, reduce carbon emissions, and optimize energy costs across their operations. It also reflects the growing trend among industrial consumers to invest directly in captive renewable energy projects to secure long-term access to clean power.
For UltraTech Cement, the latest wind power procurement adds to its expanding renewable energy portfolio. The company has been actively pursuing solar and wind energy projects through captive and group captive models as part of its sustainability roadmap and long-term renewable energy targets.
The development further highlights the increasing role of captive renewable energy solutions in supporting India’s industrial decarbonization efforts while enhancing energy security for large-scale manufacturing operations.
