Investment22 May 2025, 05:50 pm
JK Lakshmi Cement to Acquire 26% Stake in Solar Power SPV for Rs. 4 Crore
AI Summary
JK Lakshmi Cement Ltd. has announced its decision to acquire a 26% equity stake in a Special Purpose Vehicle (SPV) under incorporation. The SPV is set to generate and transmit renewable energy, specifically solar power, under the captive power laws. The acquisition is expected to reduce the cost of power at JK Lakshmi Cement's various plant locations. The company will invest up to Rs. 4 Crore in the SPV, which will enable it to source solar power at a competitive market rate for 15 years. Post-acquisition, the SPV will become an associate of JK Lakshmi Cement.
Key Highlights
- JK Lakshmi Cement to acquire 26% stake in a Solar Power SPV
- Investment of up to Rs. 4 Crore
- Expected to reduce power costs at various plant locations
- Solar power to be sourced at competitive market rates for 15 years
- SPV to become an associate of JK Lakshmi Cement post-acquisition