Dalmia Bharat’s arm to acquire 19.18% stake in Amplus Kaveri Solar

Dalmia Bharat’s wholly owned subsidiary — Dalmia Cement (Bharat) (DCBL) has entered into Share Subscription and Shareholders’ Agreement (SSSA) and Solar Power Purchase Agreement (SPPA) on June 7, 2024 to acquire 19.18% of equity share capital of Amplus Kaveri Solar, consisting of 1,62,61,200 equity shares aggregating to Rs 16.26 crore in one or more tranches to source solar power as a captive consumer for a capacity upto 45.20 MW located in the State of Maharashtra. 

The object of acquisition is 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 (solar) will qualify as captive consumer under the Electricity Act/ Rules. The transaction is subject to customary conditions precedents and expected to be completed within a period of 8-9 weeks.

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.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

1  ×  nine  =