JSW Cement has signed a Power Purchase Agreement with JSW Green Energy Fifteen for purchase of solar power from captive solar energy power plant and for subscribing to 26% equity stake in JSW Green Energy Fifteen. With this stake, JSW Green Energy Fifteen will become an Associate Company.
The object is to meet the requirements under the Electricity Act 2003, Electricity Rules 2005 and other applicable Laws to hold a minimum of 26% shareholding so as to comply with the captive status. Cost of acquisition is Rs 21.78 crore.
JSW Cement is part of the JSW Group, a multinational conglomerate with a portfolio of diversified businesses across various sectors such as steel, energy, maritime, infrastructure, defence, business-to-business e-commerce, realty, paints, sports and venture capital.
