J. K. Cement Limited has strategically acquired a 26% stake in Truere Current Private Limited (TCPL) for Rs 2.81 crore. This investment involves the subscription of 21.84 lakh equity shares. The move is designed to support the company’s long-term renewable energy strategy by facilitating a solar power supply project for its Gotan manufacturing plant, utilizing Battery Energy Storage System (BESS) technology to ensure efficient energy management.
Expanding Renewable Energy Footprint
J. K. Cement Limited announced a significant expansion in its renewable energy capabilities through an investment in Truere Current Private Limited (TCPL). By acquiring a 26% equity stake in the special purpose vehicle, the company aims to bolster its sustainable energy infrastructure. The total cash consideration for this transaction amounts to Rs 2,81,45,490, covering the subscription of 21,84,000 equity shares at a face value of Rs 10 with a premium of Rs 2.88 per share.
Project Objectives and Solar Integration
The collaboration is centered on a Power Purchase Agreement (PPA) with TCPL and Oriana Power Limited. The primary objective is to supply 40 MWp of solar power to J. K. Cement’s Gotan plant. To ensure reliable operations, the facility incorporates a Battery Energy Storage System (BESS), which allows for the storage of surplus power and better overall energy management at the site located in Tehsil Bap, District Phalodi, Rajasthan.
Target Entity Profile
TCPL, incorporated on April 15, 2024, serves as a dedicated vehicle for developing this renewable energy project. As of March 31, 2025, the entity reported a net worth of Rs 35.93 crore and is currently in the asset-development phase. This investment aligns with the company’s broader sustainability goals and commitment to integrating green energy solutions within its manufacturing operations.
Source: BSE
