India's JK Lakshmi to Take Stake in 42 MW Solar-plus-Storage Project

en.Wedoany.com Reported - Recently, the board of India's JK Lakshmi Cement Company approved an investment of up to INR 205 million in solar project company STLC RE 1, with a planned stake of no less than 26%. STLC plans to build a photovoltaic power plant with an AC-side capacity of 29 MW and a DC-side capacity of 42 MW peak, paired with a 28 MWh battery energy storage system, to supply power to JK Lakshmi's integrated cement plant.

The project will be implemented under India's group captive power model, requiring JK Lakshmi to maintain at least a 26% stake in STLC at all times. STLC is currently wholly owned by Sago Trading, a member of the company's promoter group, making this investment a related-party transaction; JK Lakshmi's audit committee has approved its advancement on an arm's length basis.

STLC was established in March 2025 and is engaged in solar power generation and distribution, having generated no revenue as of the end of March 2026. JK Lakshmi will complete the equity subscription in cash, with the transaction expected to close by December 31, 2026. The company already operates an 8 MW peak solar project at the same cement production site.