JK Cement Boosts Renewable Portfolio With Increased Stake To 28.97% In O2 Renewable Energy V

J.K. Cement Limited (JKCL) has taken a substantial step forward in strengthening its long-term renewable energy strategy with an increased investment in O2 Renewable Energy V Private Limited, an independent power producer. According to a regulatory filing dated December 3, 2025, the company acquired an additional 46,45,658 equity shares from JSW Neo Energy Limited through a cash transaction valued at ₹5.19 crore.

With this acquisition, JKCL’s stake in the renewable energy-focused special purpose vehicle rises from 16.76% to 28.97%. As a result, the parties involved will now execute an Amendment to the existing Share Subscription and Shareholders Agreement (SSHA) to reflect the updated ownership structure.

O2 Renewable Energy V Private Limited, incorporated in May 2022, is actively engaged in the development, generation, and supply of renewable power in India. The company currently runs a 22 MW wind project that forms a part of a larger 240 MW wind-solar hybrid park in Kudligi Taluk, Karnataka. The power generated is supplied to JKCL as well as other designated consumers, supporting their energy needs through clean power sources.

The SPV posted a turnover of Rs. 20.29 crore during the financial year 2024-25 and recorded a Net Worth of Rs. 43.27 crore. JKCL noted that the acquisition was completed on an arm’s-length basis and highlights its ongoing focus on sustainable growth.

By expanding its stake, JKCL aims to strengthen its access to reliable renewable power, reduce operational energy risks, and support its decarbonization goals. The move also reflects a broader industry trend where major industrial firms are increasingly investing in renewable energy assets to stabilize long-term power costs and contribute to national clean energy targets. This strategic decision reinforces JKCL’s commitment to sustainability and energy transition across its operations.