Ultra Tech cement has entered into Share Subscription and Shareholders Agreement and Energy Offtake Agreement with M/s VEH Radiant Energy Private Limited (“VEH Radiant”) for the purposes of acquiring 26% equity shares of VEH Radiant. VEH Radiant will be engaged in generation and transmission of renewable energy.
To meet green energy needs; optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws. Within 180 days from the execution of Energy Offtake Agreement and Share Subscription & Shareholders’ Agreement.
VEH Radiant is a company registered under the Companies Act, 2013, having registered office at 9th Floor, My Home Twitza, Plot No 30/A, TSIIC Hyderabad Knowledge City, Raidurg, Hyderabad, Telangana, for setting up 21.6 MW wind power project, on a captive basis, at Kasar Sirsi Village, Taluka: Nilanga, District: Latur, Maharashtra.
