Waaree Energies Subsidiaries Sign Agreements with Ultratech Cement for Project Development
Waaree Forever Energies Private Limited (WFEPL), a wholly-owned subsidiary of Waaree Energies Limited, along with its further subsidiary Solaris Horizon Energy Private Limited (SHEPL), has entered into significant agreements with Ultratech Cement Limited (UCL). These agreements include an Energy Supply Agreement (ESA) and a Share Subscription and Shareholders' Agreement (SSHA).The transaction involves UCL subscribing to equity in SHEPL while also establishing the framework for the supply and offtake of electricity generated by the project undertaken by SHEPL.
Details provided regarding the partnership and the operational setup are as follows:
- Shareholding: Pursuant to the SSHA, Ultratech Cement Limited will subscribe to and hold 26% of the total paid-up equity share capital of SHEPL.
- Energy Supply: The ESA dictates that all parties have agreed to supply and offtake electricity generated from the project managed by SHEPL.
The transaction was formalized on August 12, 2026.
Transaction and Operational Details
SHEPL, incorporated as a special purpose vehicle in the Financial Year 2025-26, is yet to commence business operations. The venture involves UCL, which operates in cement manufacturing and the sale of grey cement, ready mix concrete (RMC), and white cement. UCL does not belong to the Promoter or Promoter Group of Waaree Energies Limited.The key financial terms and timelines associated with this development are summarized below:
| Particulars | Detail |
|---|---|
| Agreement Date | August 12, 2026 |
| Consideration Received | Cash consideration of INR 27,75,50,000/- |
| Equity Stake Purchased | UCL will hold 26% of the paid-up equity share capital of SHEPL. |
| Project Completion Timeline | Within 180 days from the execution date, subject to stipulated conditions in the SSHA and ESA. |
The transaction has been determined not to be a related party deal and is structured outside any Scheme of Arrangement.
WAAREEENER Stock Price Movement
Shares of Waaree Energies Limited slipped on Wednesday, closing at ₹2668 after shedding 1.33% or ₹36.00 from the previous day's close. The stock was exchanged during the session with a total volume of 542,431 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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