J.K. Cement Acquires 9.77 Percent Equity Stake in the Mehrauni Electro Solar Project

J.K. Cement Ltd. has acquired a 9.77 Percent equity stake in Mehrauni Electro Power Pvt. Ltd. (MEPPL) for INR 2.1 crore, subscribing to 21 lakh equity shares at a face value of INR 10 each. The investment is aimed at supporting the development of a dedicated solar power project.

MEPPL, a special purpose vehicle set up by Onward Solar Power, is developing a 40 MW (AC) solar plant in Prayagraj district. Under a group captive structure, the project will supply 7 MWp of solar power to J.K. Cement’s plant in the same region, helping the company reduce energy costs and increase its renewable energy share.

Incorporated in 2023, MEPPL is currently in the pre-operational stage. As per financials for the period ending March 31, 2025, the company reported no revenue and a negative net worth of INR 0.13 crore, reflecting its early-stage project development status.

The transaction aligns with J.K. Cement’s broader strategy to secure sustainable and cost-efficient power through captive renewable energy assets.