Dalmia Cement (Bharat) to acquire 18% stake in a wind power entity – EQ
In Short : “Dalmia Cement (Bharat) to purchase an 18% stake in a wind power entity, strengthening its commitment to renewable energy investment and furthering its position in the sustainable energy sector.”
In Detail : Dalmia Bharat’s wholly owned subsidiary — Dalmia Cement (Bharat) (DCBL) has entered into Share Purchase Agreement (SPA), Deed of Accession (DOA) and Power Purchase Agreement (PPA) on April 5, 2024, to acquire 18.13% of equity share capital of O2 Renewable Energy V, consisting of 68,99,293 equity shares around to Rs 7.80 crore in one or more tranches to source wind power as a captive consumer for a capacity upto 11 MW located in the State of Karnataka.
The acquisition is in order to enhance its source of renewable power supply to achieve group’s commitment towards RE 100 by 2030 and carbon negative by 2040. The renewal power (wind) will qualify as captive consumer under the Electricity Act/ Rules.
Dalmia Bharat has emerged as one of the most respected cement manufacturers in India, contributing to nation-building through adequate capacity creation, consistently high quality standards and value-added products.
