Acquisitions16 Mar 2026, 07:27 pm
India Cements Ltd Acquires 10.76% Stake in First Energy 8 Private Limited for Renewable Energy Needs
AI Summary
India Cements Ltd has entered into a Captive Power Agreement and Share Subscription and Shareholders Agreement to acquire 10.76% equity shares of First Energy 8 Private Limited. The acquisition is aimed at meeting the company’s green energy needs, optimising energy cost, and complying with regulatory requirements for captive power consumption under electricity laws. First Energy 8 Private Limited is a special purpose vehicle incorporated on 10th August 2023, and it supplies 21.835 MW wind power on a group captive basis from a project located at Mondipatti, Tamil Nadu, India.
Key Highlights
- India Cements Ltd to acquire 10.76% stake in First Energy 8 Private Limited
- Acquisition aimed at meeting green energy needs and optimising energy costs
- First Energy 8 Private Limited is a special purpose vehicle incorporated in 2023
- Company to supply 21.835 MW wind power on a group captive basis
- Acquisition to help comply with regulatory requirements for captive power consumption under electricity laws