Star Cement Acquires 30% Stake in JSW Green Energy Six Limited for Renewable Power Supply

Star Cement Ltd, along with its wholly owned subsidiary M/s Star Cement North East Limited, has entered into Group Captive Power Purchase Agreements with JSW Green Energy Six Limited for the purchase of renewable power consisting of Wind and Solar Hybrid power. The agreement is in line with the captive power policy of the Government, and Star Cement will be acquiring up to 30% of the paid-up equity shares of JSW Green Energy Six Limited. The target company, JSW Green Energy Six Limited, is a developer and operator of renewable energy-based power plants in India, with a solar and wind hybrid power plant in Maharashtra. The acquisition aims to enhance Star Cement's sources of renewable power supply and is expected to be completed within 18 months from the date of signing of the Power Purchase Agreements (PPA).