Dalmia Bharat Acquires 26 Percent Stake in Solsolis to Boost RE
Dalmia Bharat Ltd.'s subsidiary Dalmia Cement (Bharat) Ltd. has acquired a 26 percent stake in Solsolis Solar Energy Solutions for INR 3.02 crore, targeting 11.2 MW solar capacity in Odisha, reinforcing its commitment to renewable energy and sustainability goals.
September 20, 2024. By EI News Network
This acquisition allows Dalmia Bharat to utilise solar power as a captive consumer, targeting a capacity of up to 11.2 MW located in Odisha. This move is in line with the company’s broader sustainability goals, which include achieving RE 100 by 2030 and becoming carbon negative by 2040. By enhancing its renewable energy sourcing capabilities, Dalmia Bharat aims to significantly bolster its environmental stewardship.
The transaction is subject to customary conditions and is expected to be finalised within eight months. Solsolis Solar Energy Solutions, incorporated in April 2024, operates as a Special Purpose Vehicle dedicated to developing solar power projects specifically for captive use. Located in Odisha, Solsolis is poised to contribute to Dalmia Bharat’s renewable energy objectives.
As the renewable energy landscape continues to evolve, Dalmia Bharat’s strategic investment in Solsolis underscores its commitment to sustainable practices and innovation in energy sourcing. This acquisition not only enhances the company’s operational capabilities but also reinforces its dedication to reducing carbon emissions in alignment with national and global sustainability targets.
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