Dalmia Cement (Bharat) Limited (‘DCBL’), a subsidiary of Dalmia Bharat, has entered into an agreement on October 17, 2025, to acquire stake/additional stake in three SPVs of Velan Infra Projects Pvt. Ltd. for Rs. 4.2 Crore. This investment will source solar power as a captive consumer for a capacity up to 14.00 MW located in Tamil Nadu. The acquisition is expected to complete within 3 months.
Renewable Energy Investment
Dalmia Cement (Bharat) Limited (‘DCBL’) is expanding its renewable energy portfolio. On October 17, 2025, the company formalized an agreement to acquire stake/additional stake in three Special Purpose Vehicles (SPVs) of Velan Infra Projects Pvt. Ltd.
Deal Overview
The total investment for the stake in the SPVs amounts to Rs. 4.2 Crore. This strategic move will enable Dalmia Cement to source solar power as a captive consumer, supporting a capacity of up to 14.00 MW. The power generation facilities are strategically located in Tamil Nadu.
Projected Timeline
The acquisition process is subject to standard conditions and is projected to be finalized within a period of 3 months. The company is focused on expanding its green energy capabilities.
Details of Target Entities
The deal involves acquiring shares in:
- Bijlee Kandasamy Private Limited: Dalmia Bharat to hold 36.92% post-acquisition.
- Kilavikulam Rajalakshmi Solar Power Developer Private Limited: Dalmia Bharat to hold 37.90% post-acquisition.
- Apple India Solar Products Private Limited: Dalmia Bharat to hold 38.60% post-acquisition.
These entities are special purpose vehicles dedicated to setting up solar power projects to supply power on a captive basis in the state of Tamil Nadu.
Strategic Rationale
This investment aims to enhance Dalmia Bharat’s renewable power supply and aligns with the company’s commitment to achieving RE 100 by 2030 and carbon negativity by 2040. The solar power will qualify as captive consumption under prevailing Electricity Act and Rules.
Source: BSE
