Dalmia Bharat acquires 25% stake in solar power producer

Dalmia Bharat Ltd, through its subsidiary Dalmia Cement (Bharat) Ltd, has entered into an agreement to acquire a 25.38 per cent stake in Bijlee Kandasamy Pvt Ltd for INR33m. This acquisition will enable Dalmia Cement to become a captive consumer of Bijlee Kandasamy's solar power generation, allowing the company to source up to 11MW of solar energy in Tamil Nadu. The move aligns with Dalmia Bharat's broader commitment to achieving 100 per cent renewable electricity by 2030 and its goal to become carbon-negative by 2040.

Dalmia Bharat has been actively increasing its stake in renewable energy companies in recent months. In August, it raised its share in O2 Renewable Energy V Pvt Ltd to 25.44 per cent, followed by plans to acquire a 26 per cent stake in Truere Surya Pvt Ltd and Solsolis Solar Energy Solutions Pvt Ltd in September.

The acquisition is expected to be finalised within two months, further supporting Dalmia Bharat’s sustainability objectives. For the June quarter, the company reported a consolidated net profit of INR1.41bn and consolidated revenues of INR36.21bn. At the time of the announcement, shares of Dalmia Bharat were trading at INR1961.30 on the National Stock Exchange, reflecting a modest rise of 0.2 per cent.

Dalmia Bharat’s move to acquire a 25.38 per cent stake in Bijlee Kandasamy Pvt Ltd aligns with its broader goal of ensuring a stable and sustainable energy supply, reinforcing its commitment to carbon reduction while also strengthening its operational resilience in the long-term.