Dalmia Cement Bharat (DCBL) will procure 10 MW of power from Kilavikulam Rajalakshmi Solar Power Developer’s captive solar project in Tamil Nadu. As part of the deal, DCBL will acquire a 34.52% stake—three million equity shares—at a face value of Rs 10 per share, totaling Rs 30 million. 

Kilavikulam Rajalakshmi Solar Power Developer is a special purpose vehicle set up for captive solar projects, with this 10 MW project expected to be completed within two months. 

According to Dalmia Cement’s 2023-24 annual report, 47% of the company’s power is sourced from captive projects, with renewable energy contributing 185 MW of the total 397 MW. In FY 2024, the company achieved its highest captive renewable energy consumption at 27% and met 33% of its total power needs through renewables. 

Dalmia Cement added 19 MW of renewable energy capacity in FY 2024, ending the year with a total solar power generation capacity of 113 MW. The company has also been expanding its renewable portfolio through strategic acquisitions. In 2024, it acquired an 18.13% stake in O2 Renewable Energy to source 11 MW of wind power from Karnataka-based projects. 

Additionally, Dalmia Cement signed a deal in October 2024 to procure wind power from Atria’s 6 MW wind project in Karnataka, acquiring a 5.39% equity stake. In September 2024, it agreed to procure up to 11.2 MW of solar power from Odisha-based Solsolis Solar Energy Solutions, investing Rs 30.2 million through 3.02 million equity shares. 

(Mercom)