Dalmia Cement (Bharat), a wholly owned subsidiary of Dalmia Cement Bharat, will source up to 128 MW of solar power from a Tamil Nadu-based under-construction project of Oriana Power’s special purpose vehicle (SPV) TrueRE Surya.

Dalmia invested ₹428.7 million (~$4.74 million) to acquire more than 26.26 million equity shares for a 26% stake in TrueRE Surya.

The company will procure power from TrueRE Surya to enhance its renewable power supply, to achieve its RE 100 commitment by 2030, and to become carbon negative by 2040.

In its 2024-2025 annual report, Dalmia Bharat said approximately 36% of the power it consumes comes from renewable sources. This is a 3% increase from the previous year. It has commissioned a group captive solar and wind capacity of 59 MW and has expanded the capacity of its solar projects to 23.2 MW.

The company has an existing solar capacity of 136 MW.

Additionally, Dalmia said it secured 338 MW of renewable energy through group captive power purchase agreements. It also installed 16 solar river lift and 46 solar water lift systems.

The company also buys power on the Green Term Ahead Market platform of the Indian Energy Exchange.

In October last year, Dalmia Cement (Bharat) announced it would source 14 MW of solar power as a captive consumer from Velan Infra Projects, a renewable energy solutions provider, through three SPVs in Tamil Nadu.

Dalmia also announced that it will source up to 20 MW of solar power through Velan’s Tamil Nadu-based SPVs, Gee Yess India Engineering Technology, and San Power Generation Transmission, as a captive consumer. Dalmia signed a share subscription and shareholders’ agreement to acquire a stake in these SPVs for an aggregate consideration of ₹60 million (~$679,695).

Earlier, Dalmia Cement Bharat announced it would procure 10 MW of power from Kilavikulam Rajalakshmi Solar Power Developer’s captive solar project in Tamil Nadu.