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					</table><p><a href="https://www.jkcement.com/" target="_blank" rel="noopener">JK Cement</a> will procure power from a 70 MW solar project for its Nimbahera facility in Rajasthan by acquiring a 26% equity stake in Truere Guj, a special purpose vehicle (SPV) of Oriana Power, under a captive user model.</p>
<p>The company has subscribed to 3.276 million equity shares at a face value of ₹10 (~$0.106) each, with a premium of about ₹2.88 (~$0.031) per share. The investment aggregates to ₹42.22 million (~$448,000).</p>
<p>The investment is part of JK Cement’s renewable energy strategy to increase green power use and reduce its dependence on fossil fuels.</p>
<p>Companies in India’s hard-to-abate cement sector are increasingly turning to solar and other renewable energy sources as part of their decarbonization and net-zero initiatives. JK Cement</p>
<p>The company had a total green power capacity of 253.74 MW as of FY 2025, including 171.44 MW from captive solar and wind sources and 82.3 MW from waste heat recovery systems. Renewable energy accounted for about 52% of its power mix during the year. The company targets increasing this share to 75% by FY 2030.</p>
<p>Its renewable energy capacity exceeds its 77.5 MW of coal-based captive power capacity.</p>
<p>In FY 2025, the company’s Muddapur plant operated on 99% green energy in Bagalkot district, Karnataka.</p>
<p>In its FY 2025 annual report, JK Cement said its renewable purchase obligation mandates require it to source a defined share of energy from renewables, supporting national energy goals.</p>
<p>Earlier this year, the company <a href="https://www.mercomindia.com/jk-cement-to-procure-7-mw-from-onward-solars-40-mw-solar-project" target="_blank" rel="noopener">announced</a> that it would procure 7 MW of power from Mehrauni Electro Power’s 40 MW solar power project in Prayagraj, Uttar Pradesh, under a group captive arrangement. The procured power will be used to operate JK Cement’s manufacturing facility in Prayagraj.</p>
<p>Last December, JK Cement made a further <a href="https://www.mercomindia.com/jk-cement-increases-shareholding-in-22-mw-captive-wind-project" target="_blank" rel="noopener">investment</a> in O2 Renewable Energy V, a SPV of O2 Power, to increase its shareholding in a 22 MW group captive wind power project in Kudligi Taluk, Bellary, Karnataka.</p>


JK Cement to Procure Solar Power from Oriana’s 70 MW Solar Project


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					</table><p><a href="https://www.jkcement.com/" target="_blank" rel="noopener">JK Cement</a> will procure 7 MW of power from Mehrauni Electro Power’s 40 MW solar power project in Prayagraj, Uttar Pradesh, under a group captive arrangement.</p>
<p>The procured power will be used for the operations of JK Cement’s manufacturing facility in Prayagraj.</p>
<p>The company has invested ₹21 million (~$252,009) in Mehrauni Electro Power, a special-purpose vehicle (SPV) of <a href="https://www.onwardsolar.in/" target="_blank" rel="noopener">Onward Solar Power</a>, to acquire a 9.77% stake.</p>
<p>JK Cement has acquired 2.1 million equity shares at a face value of ₹10 (~$0.107) each.</p>
<p>In the financial year (FY) 2025, JK Cement raised its green power procurement to 51% from 19% in FY 2020, with 101.84 MW coming from wind and solar projects.</p>
<p>Currently, JK Cement has around 274 MW of power purchase agreements assigned for the procurement of wind and solar projects.</p>
<p>In FY 2025, the company procured 2.75 million GJ of renewable energy, and 173,822 GJ from wind and solar projects.</p>
<p>The green power procurement strategy in FY 2025 included 4% from a captive arrangement and 11.6% from purchased renewable energy.</p>
<p>The company has also proposed adding 166 MW of green power in the coming years. It has set a target of increasing its green power procurement to 75% by FY 2030.</p>
<p>The company’s Muddapur plant in Karnataka operated with over 99% green power during FY 2025.</p>
<p>Recently, JK Cement made a further investment in O2 Renewable Energy V, a SPV of O2 Power, to <a href="https://mercomindia.com/jk-cement-increases-shareholding-in-22-mw-captive-wind-project" target="_blank" rel="noopener">increase</a> its shareholding in a 22 MW group captive wind power project in Kudligi Taluk, Bellary, Karnataka. The company acquired 4,645,658 equity shares from JSW Neo Energy, representing a 12.21% stake in the SPV, for a total cash consideration of ₹51.93 million (~$577,706).</p>
<p>According to Mercom’s Q4 &amp; Annual 2025 India Solar Open Access Market Report, India <a href="https://mercomindia.com/india-adds-7-8-gw-of-solar-open-access-capacity-in-2025" target="_blank" rel="noopener">added</a> 7.8 GW of solar open access capacity in 2025, a largely flat 0.5% year-over-year growth from 7.7 GW. India’s cumulative installed solar open access capacity grew to over 30 GW as of December 2025.</p>


JK Cement to Procure 7 MW from Onward Solar’s 40 MW Solar Project


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					</table><p><a href="https://www.jkcement.com/" target="_blank" rel="noopener">JK Cement</a> has made a further investment in O2 Renewable Energy V, a special purpose vehicle (SPV) of <a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>, to increase its shareholding in a 22 MW group captive wind power project in Kudligi Taluk, Bellary, Karnataka</p>
<p>The company acquired 4,645,658 equity shares from JSW Neo Energy, representing a 12.21% stake in the SPV, for a total cash consideration of ₹51.93 million (~$577,706).</p>
<p>Following this purchase, JK Cement&#8217;s holding in the SPV will rise from 16.76% to 28.97%.</p>
<p>An amendment to the existing share subscription and shareholders&#8217; agreement will be executed among the parties.</p>
<p>The 22 MW project is part of a 240 MW wind-solar hybrid park located in Kudligi Taluk.</p>
<p>JK Cement clarified in its bourse filing that this acquisition is not a related-party transaction and has been carried out on an arm&#8217;s-length basis. It also notes that no specific governmental or regulatory approvals are required, that no indicative completion timeline applies, and that the consideration is entirely in cash.</p>
<p>According to the company’s annual report 2024-25, its green power share rose to 51%.</p>
<p>“The company now has 184.14 MW of captive green power capacity, supported by waste heat recovery systems and renewable sources. Ongoing projects across key locations are expected to add another ~165 MW by financial year (FY) 2025–26, taking us closer to achieving a ~60% green power share in the near term and progressing steadily towards our long-term target of 75%,” it said.</p>
<p>“Notably, its Muddapur plant operated with over 99% green power during the year FY 2024-25,” the report said.</p>
<p>JK Cement has ~274 MW of power purchase agreements signed for solar and wind power.</p>
<p>Incorporated on May 25, 2022, O2 Renewable Energy V is focused on setting up and generating power from renewable sources in India. As of March 31, 2025, it reported turnover of ₹202.9 million (~$2.26 million), profit after tax of ₹8.1 million (~$90,110), and net worth of ₹432.7 million (~$4.81 million).</p>
<p>India added 2.2 GW of solar open access capacity in the third quarter (Q3) of 2025, increasing 108% year-over-year from 1.1 GW, according to Mercom India&#8217;s <a href="https://www.mercomindia.com/product/q3-2025-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener">Q3 2025 Solar Open Access Market Report</a>.</p>
<p>Karnataka recorded the highest solar open access capacity additions, accounting for nearly 38% of the installations, in Q3. It was followed by Rajasthan and Gujarat, which accounted for 25% and 11% of the additions.</p>
<p>The cumulative solar open access capacity stood at 27.9 GW as of September 2025.</p>
<p>Mercom India hosts a multicity &#8216;C&amp;I Clean Energy Meet&#8217; series designed to provide commercial and industrial energy buyers with the knowledge and tools they need to adopt clean energy solutions and lower their power costs. The next Clean Energy Meet event will be held in <a href="https://www.mercomindia.com/event/c-and-i-clean-energy-meet-2025-nagpur" target="_blank" rel="noopener">Nagpur</a> on December 12, 2025.</p>
<p><a href="mailto:sales@mercomindia.com?subject=Seeking%20Solar%20Installation%20Guidance%20and%20Vendor%20Recommendations%20for%20Business" target="_blank" rel="noopener">Contact us</a> if you plan to install solar and need guidance or vendor recommendations.</p>


JK Cement Increases Shareholding in 22 MW Captive Wind Project

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