UltraTech forms JV to expand solar power generation
UltraTech Cement has formed a joint venture with Amplus Energy to expand its solar power generation capacity. The cement producer has acquired a 26 per cent stake in the Amplus Sunshine. Under the JV, Amplus Sunshine will set up a 15MW captive solar plant at one of UltraTech's Cement's plants for an investment of around US$10million (Rs 680 million). The cement producer has a capacity of 50MW from its solar power plants.