Dalmia Cement (Bharat), a wholly owned subsidiary of Dalmia Bharat, has entered into agreements with Ventora Energy, a special purpose vehicle (SPV) of Ultra Mega Power, to source up to 8.1 MW of captive wind power in Tamil Nadu.

Dalmia Cement (Bharat) will acquire 4.42 million equity shares at ₹10 (~$0.11) each, totaling ₹44.2 million (~$471,066), for a 26.6% stake in Ventora Energy.

The investment, to be made in one or more tranches, is intended to support the company’s renewable energy requirements.

The transaction, which is structured through a share subscription and shareholders’ agreement, and a power purchase agreement (PPA), is expected to be completed within three months.

Ventora Energy, incorporated in December 2025, operates in the wind power generation sector and is developing a captive wind energy project in Tamil Nadu.

The acquisition aligns with Dalmia’s sustainability goals, including achieving net-zero by 2030 and becoming carbon-negative by 2040, while ensuring compliance with captive power regulations under electricity laws.

During the financial year (FY) 2025, Dalmia Bharat increased its renewable power capacity by 82 MW to 267 MW and remains on track to achieve 595 MW by the end of FY26. As part of its RE100 commitment, it has already achieved a fourfold increase in renewable energy consumption relative to the RE100 baseline and is committed to a long-term transition to 100% renewable energy.

The company has an existing solar capacity of 136 MW. Additionally, Dalmia commissioned 59 MW of group captive solar and wind projects during FY25.

In January this year, Dalmia Cement (Bharat) sold its entire 25.44% stake in O2 Power’s SPV O2 Renewable Energy V (OREV) for ₹108.2 million (~$1.2 million). The company had acquired the stake in the SPV to source 11 MW of wind energy from its project in Karnataka as a captive consumer. Dalmia transferred 12.23% of its stake in OREV to JSW Neo Energy, 4.99% to Goldman Sachs Services, and 8.23% to Syngene International.

Earlier, the company announced that it would source up to 128 MW of solar power from an under-construction Tamil Nadu-based project by Oriana Power’s 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.