UltraTech & India Cements Invest in Wind Power SPV for Tamil Nadu Operations

Key Highlights • UltraTech Cement to acquire 13.99% stake in FPEL through an investment of ₹12.09 Cr • India Cements to acquire 12.48% stake through an investment of ₹10.78 Cr • FPEL will supply 15.70 MW AC of wind power to the companies' plants in Tamil Nadu Project Details • FPEL was incorporated in December 2022 • The SPV has reported zero turnover over the last three years • Transaction is not a related-party deal • Completion is expected within 180 days What It Means • Supports greater use of renewable energy in cement manufacturing • Can help reduce long-term power costs, a major expense for cement producers • Enhances sustainability initiatives and lowers carbon intensity of operations Learning Outcome For energy-intensive industries such as cement, captive renewable energy investments can improve cost competitiveness while supporting environmental goals and margin stability. $ULTRACEMCO