Emami Group to demerge solar assets from cement company

India’s Emami Group has received National Company Law Tribunal (NCLT) approval to demerge its solar power assets from its cement company. The assets will be consolidated under Emami Power, which will allow Emami Cement to focus solely on its core business.

"Proposed demerger is being undertaken with a view to consolidate the power production business in Emami Power while allowing our company to focus on its cement manufacturing operations," stated Emami Cement in July, before approval was received.

Emami Power plans to reach 300MW capacity in the coming days. The sale of solar power contributed INR266.8m (US$3.8m) to Emami Cement’s total revenue in FY18.