JK Cement has made an investment in the equity share capital of Truere Guj SPV (the SPV) (TGSPL). The company has subscribed to 32,76,000 equity shares of face value Rs 10 at a premium of around Rs 2.88 per equity shares aggregating to Rs 4,22,21,400, representing 26% of the equity share capital of SPV, pursuant to the execution of Share Subscription and Shareholders’ Agreement (SSHA). This investment is pursuant to the Power Purchase Agreement/ Shareholder Subscription Agreement and strengthens the company’s long term renewable energy strategy.

TGSPL is a special purpose vehicle established by the Oriana Power Limited (Oriana), which is currently establishing a facility with 50/70 MWp peak solar power plant, at Nimbahera Dist. Chittorgarh, in the state of Rajasthan, on a Captive User model envisaged under the Electricity Laws. This project as per PPA with TGSPL and Oriana for supplying 70 MWp solar power to its Nimbahera plant.

JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.