Star Cement Limited, along with its wholly owned subsidiary, Star Cement North East, said on Thursday it plans to acquire up to 30% equity stake in JSW Green Energy Six.
What Happened: The companies have signed power purchase agreements with JSW Green Energy Six Limited, Star Cement said in a press filing on Thursday.
This acquisition forms a part of Star Cement’s strategy to strengthen its sources of renewable power supply. The deal, which involves a total investment of ₹23.06 crore, is anticipated to be finalised within 18 months from the date of signing the power purchase agreements.
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JSW Green Energy Six Limited, established on 20th June 2024, is a firm involved in the development, operation, and maintenance of renewable energy-based power plants in India.
It is currently working on the development of a solar and wind hybrid power plant in Maharashtra, with a total installed capacity of 47 megawatts.
Price Action: Star Cement was trading 0.40% higher at ₹200.14 on Thursday afternoon.
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