UltraTech to buy a minority stake in O2 Renewable Energy

UltraTech to buy a minority stake in O2 Renewable Energy

UltraTech Cement plans to acquire a 26% stake in O2 Renewable Energy for around US$2m. It is making the purchase to support the energy requirements of its plants from renewable sources, according to the Times of India newspaper. O2 Renewable Energy is currently building a solar power plant in Karnataka that is expected to generate 35 – 48MW.