Dalmia Bharat invests Rs 78 million in solar power SPVs in Tamil Nadu

Dalmia Bharat Limited has announced investments totalling Rs 78 million in three solar power special purpose vehicles (SPVs) to expand its renewable energy capacity. The move supports the company’s goal of sourcing more clean power and advancing its sustainability targets.

Through its subsidiaries, Dalmia Cement (Bharat) Limited and Dalmia Bharat Green Vision Limited, the company will acquire minority stakes in three Tamil Nadu-based SPVs. Dalmia Cement (Bharat) will invest Rs 30 million each for 37.5% in Gee Yess India Engineering Technology Pvt. Ltd. and 31.58% in San Power Generation Transmission Pvt. Ltd., both developing up to 20 MW solar projects. Dalmia Bharat Green Vision will invest Rs 18 million for a 36% stake in Arunachalam Solar Power Pvt. Ltd., which is developing up to 6 MW.

The transactions will be completed through cash consideration and are expected to close within three months, subject to customary approvals.

The acquisitions align with Dalmia Bharat’s plan to strengthen renewable power sourcing, support its RE100 target by 2030, and move toward carbon negativity by 2040.