UltraTech Cement trades lower despite 100-MW solar project going on stream

UltraTech Cement Share Price | This is the company’s first project for sourcing power for its captive consumption from the inter-state transmission network.

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The share price of UltraTech Cement traded lower early on April 5 after the company commissioned a 100-MW solar energy project.

At 9:28am, UltraTech Cement was quoting Rs 9,928.10, down Rs 78.50, or 0.78 percent, on the BSE.

“The company announced the completion of 100-MW solar energy project under the Group Captive scheme in Rajasthan,” the company said.

This is the company’s first project for sourcing power for its captive consumption from the inter-state transmission network.

Power from this project will be available to the company’s units in Rajasthan, Gujarat, Himachal Pradesh, Tamil Nadu and Odisha among others.

The company now has a capacity of 612 MW of renewable power and 278 MW of WHRS.

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On April 2, the company announced the commissioning of two greenfield projects in Chhattisgarh and Tamil Nadu, with its total capacity reaching 151.6 million tonnes per annum (mtpa)

The company said that it will invest Rs 32,400 crore in capital expenditure over the next three years.