Investment25 Apr 2026, 07:30 pm
Jayaswal Neco to Invest ₹40.97 Cr in Solar Power SPVs
AI Summary
Jayaswal Neco Industries Ltd plans to invest approximately ₹40.97 Crores in one or more tranches into Special Purpose Vehicles (SPVs) of Waaree Group for setting up solar power projects. This investment will enable the company to procure solar energy on a captive basis for its Steel Plant Division and Chhotedongar Iron Ore Mines, complying with Electricity Rules 2005 under the Group Captive Multiple Consumers Structure. The proposed solar power project will have a capacity of 104 MWAC / 145.60 MWp.
Key Highlights
- Jayaswal Neco will invest around ₹40.97 Cr in Waaree Group's solar SPVs.
- The investment aims to procure captive solar energy for company's steel plant and mines.
- The solar project will have a capacity of 104 MWAC / 145.60 MWp.
- The company's shareholding in the SPVs will be less than 20%.
- The investment will help meet ESG commitments and reduce grid power tariff volatility.