Dalmia Cement to Procure 10 MW Solar Power from Captive Plant in Tamil Nadu
Dalmia Cement (Bharat) Ltd. will procure 10 MW of solar power from Kilavikulam Rajalakshmi Solar Power Developer’s captive plant in Tamil Nadu as part of its commitment to RE100 by 2030. The company will acquire 34.52 percent equity stake in the SPV for INR 3 crore.
March 10, 2025. By Mrinmoy Dey
Dalmia Cement will acquire 34.52 percent equity share of the solar power developer consisting of 30 lakh equity shares at a face value of INR 10 each, aggregating to INR 3 crore, the company shared in a regulatory filing.
Kilavikulam Rajalakshmi Solar Power Developer is a Special Purpose Vehicle (SPV) for setting up 10 MW solar power project on a captive basis, in the state of Tamil Nadu.
The objective of the acquisition is to enhance Dalmia Cement’s source of renewable power supply to achieve group’s commitment towards RE 100 by 2030 and carbon negative by 2040, stated the company.
Dalmia Bharat in its Annual Report 2023-24 mentioned that the company procures 47 percent of its power from captive projects. Renewable energy accounted for 185 MW out of 397 MW procured from captive projects.
The company achieved its highest captive consumption of renewable energy at 27 percent during FY24. RE’s shared in the company’s overall energy consumption stood at 33 percent. The company added 19 MW of RE capacity in FY24 and by the end of FY24, its solar power generation capacity stood at 113 MW.
In 2024, the company also entered into agreements, including a Share Purchase Agreement (SPA), Deed of Accession (DOA) and Power Purchase Agreement (PPA), to acquire 18.13 percent of the equity share capital of O2 Renewable Energy. “This acquisition is aimed at sourcing wind power for our captive consumption for a capacity of up to 11 MW in Karnataka,” stated the company.
In September 2024, Dalmia Cement initiated a 128 MW solar procurement arrangement from Oriana Power through open access in Tamil Nadu.
In September 2024, Dalmia Cement acquired a 26 percent stake in Solsolis Solar Energy Solutions for INR 3.02 crore. It will supply 11.2 MW of captive solar power to the company in Odisha.
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