Dalmia Cement Bharat (DCBL) will procure 10 MW of power from Kilavikulam Rajalakshmi Solar Power Developer’s captive solar project in Tamil Nadu.

Dalmia Cement will acquire 34.52% or three million equity shares of the solar power developer at a face value of ₹10 (~$0.1149) per share, aggregating to ₹30 million (~$344,754).

Kilavikulam Rajalakshmi Solar Power Developer is a special purpose vehicle for setting up captive solar projects in Tamil Nadu. Its 10 MW project is expected to be completed within two months.

According to the company’s annual report for 2023-24, Dalmia Cement procures 47% of its power from captive projects. Renewable sources comprise 185 MW of the 397 MW of power procured from captive projects.

The company achieved the highest captive renewable energy consumption at 27% in the financial year (FY) 2024.

In the same year, it met 33% of its total power requirements through renewable energy.

Dalmia Cement added 19 MW of renewable energy capacity in FY 2024. At the end of FY 2024, it had a total solar power generation capacity of 113 MW.

In 2024, the company acquired 18.13% of equity shares of O2 Renewable Energy to source 11 MW of power from Karnataka-based wind projects.

In October last year, Dalmia Cement announced it would procure wind power from Atria’s 6 MW wind power project in Karnataka as a captive consumer. The company entered a share purchase and shareholders agreement to acquire 5.39% of Atria Wind Power’s equity share capital.

In September 2024, the company signed an agreement to procure up to 11.2 MW of solar power as a captive consumer from Solsolis Solar Energy Solutions in Odisha. It acquired 3.02 million equity shares aggregating to an investment of ₹30.2 million (~$361,468) to be made in one or more tranches.