JK Lakshmi Cement to Acquire 26% Stake in Opera Vayu (Narmada) for Renewable Energy Power Purchase

JK Lakshmi Cement Ltd. has announced its decision to acquire a 26% equity shareholding in Opera Vayu (Narmada) Private Limited, a Special Purpose Vehicle incorporated on 1st August 2022. The SPV is involved in the generation and transmission of renewable energy, specifically wind and solar power. The acquisition is part of JK Lakshmi Cement's strategy to increase the sourcing of renewable power and reduce the cost of power at its various plant locations. The company will invest up to ₹ 4 Crore for acquiring 26% Equity Holding in the said SPV. This acquisition will enable JK Lakshmi Cement to get Wind & Solar Power from SPV at a very competitive market rate for a period of 12 years. The transaction is expected to be completed by 31st December 2025 and the consideration is in the form of cash.