JK Cement Invests ₹4.22 Cr in Solar SPV for Renewable Power

JK Cement Limited has announced an investment of ₹4.22 crore to acquire a 26% equity stake in Truere Guj SPV Private Limited. This Special Purpose Vehicle is developing a 50/70 MWp solar power plant in Rajasthan.

The transaction, described as an arm's length deal and not involving related parties, reinforces JK Cement's commitment to expanding its use of renewable energy. The SPV is set to supply power to JK Cement's Nimbahera plant, securing a dedicated source of green energy.

This strategic move supports JK Cement's broader sustainability goals and its target to meet 75% of its power needs from green sources by 2030. The company has a history of investing in similar renewable energy SPVs to power its manufacturing facilities.

Truere Guj SPV, a subsidiary of Oriana Power Limited, is developing the solar project in Rajasthan under a captive user model.

As of March 31, 2025, Truere Guj SPV reported a net worth of ₹69.08 crore. The SPV registered a net loss after tax of -₹0.48 crore for the period ending on that date.

This investment enhances JK Cement's renewable energy portfolio with a direct stake in a solar generation asset. It also strengthens its operational efficiency and sustainability credentials as the cement industry increasingly shifts towards greener practices. Sector peers, such as Dalmia Bharat, have also pursued similar renewable energy investments with Oriana Power, indicating a broader trend.

Key areas to watch include the commissioning of the solar plant and its operational efficiency, alongside JK Cement's future renewable energy procurement plans.