en.Wedoany.com Reported - Indian cement manufacturer JK Lakshmi Cement has announced the approval of an investment in solar company STLC RE 1 Limited. The company will invest up to INR 205 million (approximately USD 2.15 million) in cash consideration into this special purpose vehicle and acquire and hold at least a 26% equity stake under the applicable group captive power model.
The investment will support the construction of a proposed solar power plant in the Sirohi district of Rajasthan, with a capacity of 29 MW AC / 42 MW DC, complemented by a 28 MWh battery energy storage system (BESS). The electricity generated will serve JK Lakshmi Cement's integrated cement plant under the group captive power model. This arrangement aims to increase the share of renewable energy procurement and reduce electricity costs across the company's plants.
The acquisition is expected to be completed by December 31, 2026, and does not require government or regulatory approvals.
