JK Lakshmi Cement Invests in Solar Power Projects through Acquisitions of Two SPVs
JK Lakshmi Cement Limited is strategically moving into renewable energy sourcing by acquiring equity stakes in two specialized solar power ventures: DynoSpark Private Limited and Elevate Solar Energy Private Limited. The investments are aimed at setting up captive solar power plants at various plant locations to reduce operational costs.The move reflects the company's commitment to increasing the sourcing of Renewable Power to mitigate electricity costs across its industrial base. Both acquisitions involve a cash consideration and are projected to be completed by October 31, 2026.
Investment in DynoSpark for Udaipur Plant
The acquisition of an equity stake in DynoSpark Private Limited will facilitate the construction of a solar power plant at JK Lakshmi Cement's Udaipur Unit. This project is part of the company’s captive power route initiative under Indian Electricity Laws, with Oriana Power Limited designated as the Project Implementor.The details regarding the target entity and the proposed investment are summarized below:
| Particulars | Details |
|---|---|
| Target Entity Name | DynoSpark Private Limited |
| Industry | Power generation using Solar energy |
| Stake Acquired | 26% Equity Shares |
| Project Scope | Setup a 25 MW (AC)/36.25 MW (DC) Solar Power Plant with 20 MWh Battery Energy Storage System (BESS) |
| Location/Unit | Udaipur Unit |
| Cost of Acquisition | Up to ₹ 16 Crore |
| DynoSpark Financials (FY ending March 31, 2026) | Turnover: Nil; Profit after tax: ₹ (0.66) Lakh; Net worth: ₹ 0.34 Lakh |
Solar Plant Setup at Durg Unit through Elevate Solar
Concurrently, JK Lakshmi Cement Limited is establishing a solar plant at its Durg Unit through the acquisition of equity in Elevate Solar Energy Private Limited. This project aims to secure competitive market-rate solar power for the company. M/s Evolve Energy Group has been designated as the Project Implementor for this initiative.Key information regarding the second target entity and the investment is detailed below:
| Particulars | Details |
|---|---|
| Target Entity Name | Elevate Solar Energy Private Limited |
| Industry | Power generation using Solar energy |
| Stake Acquired | 26% Equity Shares |
| Project Scope | Setup a 17.14 MW (AC)/24 MW (DC) Solar Power Plant |
| Location/Unit | Durg Unit |
| Cost of Acquisition | Up to ₹ 8 Crore |
| Incorporation Date | January 16, 2025 |
Both companies have been identified as part of the company's ongoing effort to secure renewable power sources and reduce expenses at its manufacturing locations.
JKLAKSHMI Stock Price Movement
Shares of JK Lakshmi Cement Limited slipped by 1.27%, settling at ₹599.30 after trading today. The stock traded within a session range of ₹596.4 to ₹607.8.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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