KEI Industries Limited has announced a strategic investment of ₹5.90 Crores to acquire a 26% stake in Solarcraft Power India 24 Private Limited. This partnership, formalized on May 20, 2026, will enable the company to source solar power as a captive consumer. The initiative covers a capacity of up to 11.25 MW, supporting the company’s commitment to sustainable energy practices and long-term environmental goals.
Strategic Move into Renewable Energy
On May 20, 2026, KEI Industries entered into a Share Subscription and Shareholders’ Agreement along with a Power Purchase Agreement. The move is designed to enhance the company’s transition toward greener energy sources. By securing a 26% stake in Solarcraft Power India 24 Private Limited, KEI Industries positions itself to receive solar energy specifically for its captive operations.
Details of the Investment
The total investment for the acquisition of Equity Share Capital and Compulsory Convertible Debentures (CCD) stands at ₹5.90 Crores. This capital will be deployed in one or more tranches to support the solar power project. The target entity, Solarcraft Power India 24 Private Limited, is a special purpose vehicle incorporated on June 6, 2023, specifically tasked with developing a solar power project in the state of Rajasthan.
Project Timeline and Impact
The transaction is subject to customary conditions and is expected to be finalized within 90 days. This acquisition is part of a broader strategy to secure reliable, cost-effective renewable energy, helping the company meet its sustainability commitments. The project, which targets a capacity of 11.25 MW, marks a significant step in the company’s efforts to integrate renewable energy into its industrial consumption model.
Source: BSE
