Star Cement, alongside its wholly-owned subsidiary Star Cement North East, has entered into a group captive power purchase agreement with JSW Green Energy Six. Under the terms of this agreement, Star Cement will acquire up to thirty per cent of the equity shares in JSW Green Energy Six.
The green energy firm is currently developing a solar and wind hybrid power plant in Maharashtra. The project will feature a total installed capacity of 47MW. This strategic acquisition is designed to bolster access to renewable energy sources for Star Cement. JSW Green Energy Six specialises in the development, construction, operation, and maintenance of renewable energy power plants across India.
The total investment for the transaction amounts to INR230.60m (US$0.249m). Star Cement will contribute INR153.7m, whilst Star Cement North East will provide INR76.9m. The transaction is expected to reach completion within eighteen months from the date the power purchase agreements are signed, subject to the fulfilment of customary conditions precedent.
Star Cement remains a prominent cement manufacturer in India, particularly within the northeastern region. Recognised for its high-quality cement products, the company has established a strong presence across the construction and infrastructure sectors. With an ongoing focus on sustainable growth, Star Cement continues to invest in expanding production capacity and improving operational efficiency.
