Orient Cement has entered into Share Subscription and Shareholders’ Agreement with Ardeur Renewables and Cleantech Solar India OA 2 on July 21, 2023 for acquisition of 28.52% stake in the share capital of Ardeur Renewables for putting up two solar power plants with capacity of 16 MWdc in Karnataka (Project 1) and capacity of 5.5 MWdc in Maharashtra (Project 2), under Captive Scheme. Object of acquisition is to meet the green energy needs and optimize energy cost and to comply with regulatory requirement for captive power consumption under electricity laws. Cost of acquisition is approximately Rs 9.50 crore.
Orient Cement has emerged as one of the fastest growing and leading cement manufacturers in India.
