Dalmia Cement to acquire stake in hybrid RE project in Andhra Pradesh
Dalmia Cement (Bharat) Limited (DCBL), a wholly-owned subsidiary of Dalmia Bharat Limited, has entered into an agreement to acquire a stake in a renewable energy project to support its manufacturing operations in Andhra Pradesh.
In a regulatory filing dated April 29, 2026, DCBL said it has signed a Share Subscription and Shareholders’ Agreement (SSHA) and a Power Consumption Agreement (PCA) to acquire a 41% stake, representing 26% on a fully-diluted basis, in Oyster Green Hybrid Five Private Limited. The acquisition will be carried out in one or more tranches for a total cash consideration of Rs 17.35 Crores.
The target entity is a Special Purpose Vehicle (SPV) promoted by Oyster Renewable Energy Private Limited and was incorporated on June 5, 2025, to develop a hybrid power project. The project, located in Andhra Pradesh, will have a capacity of 21.6 MW of wind and 14 MWp of solar power. DCBL plans to procure electricity from the project as a captive consumer for its cement plant in Kadapa, Andhra Pradesh.
The company stated that the transaction supports its target to achieve RE100 by 2030 and become carbon negative by 2040 by increasing the share of renewable power in its operations. It added that the deal does not qualify as a related party transaction and that the promoter group has no interest in the acquisition.
The transaction remains subject to customary conditions precedent and is expected to be completed within four months.
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