J.K. Cement Takes 26 Per Cent Stake In TCPL For Rs 28.15 Mn

06 May 2026 CW Team

J.K. Cement Limited has announced a strategic investment of Rs 28.15 million (mn) to acquire a 26 per cent stake in Truere Current Private Limited as part of its renewable energy integration drive. The company subscribed to 2,184,000 equity shares in the special purpose vehicle at a total consideration of Rs 28,145,490, with the transaction formalised on April 29, 2026. The investment is intended to secure long-term clean power and enhance energy efficiency across manufacturing operations.

The partnership centres on a 40 megawatt (MW) solar power project being developed in Tehsil Bap in District Phalodi, Rajasthan, which will supply renewable energy to the Gotan manufacturing plant. The project design includes the integration of a Battery Energy Storage System (BESS) to enable efficient utilisation of surplus generation and to provide a stable and reliable energy supply. The arrangement is expected to reduce dependence on conventional grid power and support operational continuity.

Truere Current Private Limited, incorporated on April 15, 2024, has been established by Oriana Power Limited to execute the project under a long-term power purchase agreement with the cement maker. The investment aligns with J.K. Cement's broader sustainability strategy, which focuses on lowering its carbon footprint and increasing the share of renewable sources in core operations. The stake acquisition is presented as a step toward strengthening the company’s energy security and cost predictability.

By backing the TCPL special purpose vehicle, the company aims to lock in clean energy supply for the Gotan unit and to capture operational efficiencies from on-site renewable generation and storage. The transaction reflects a growing corporate trend of direct equity participation in project companies to secure resources and to meet environmental objectives. The firm will continue to pursue measures that integrate renewable capacity into its manufacturing footprint.

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