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Construction supplies maker Ambuja Cements will invest ₹60 billion (almost $723 million) in renewable power initiatives, the corporate mentioned on Dec. 18.
The funding might be funded internally and is predicted to goal a capability of 1,000 megawatts (MW) via photo voltaic and wind power initiatives in Gujarat and Rajasthan, it mentioned in an trade submitting, with out offering particulars on the funding course of.
The Adani Group-owned firm added that the capability from photo voltaic power and wind power initiatives might be achieved by fiscal 2026, and add to its present capability of 84 MW.
These initiatives will improve the corporate’s whole green power capability to 60% from the prevailing 19%, it mentioned.
Earlier this month, Ambuja Cements acquired a majority stake in Sanghi Industries for 51.85 billion rupees.
Last month, greater rival UltraTech Cement mentioned it is going to purchase the cement enterprise of Kesoram Industries in an all-stock deal valued at ₹53.79 billion.
