JK Lakshmi Cement Invests ₹20.5 Cr in Solar Power SPV

JK Lakshmi Cement Ltd announced an investment of up to ₹20.50 Crore in Equity Shares of STLC RE 1 Limited, a Special Purpose Vehicle (SPV). This SPV is being set up for the purchase of solar power under the group captive power route. The investment aims to establish a 29MW AC / 42 MWP DC Solar Power Plant with a 28 MWh Battery Energy Storage System (BESS) for the company's integrated cement plant in Sirohi, Rajasthan. This initiative is expected to secure solar power at competitive market rates. The transaction is considered an arm's length transaction, with the promoter group holding 100% of STLC RE 1 Limited. The acquisition is targeted for completion by December 31, 2026, with JK Lakshmi Cement acquiring a minimum of 26% equity in STLC.