J.K. Cement Limited has informed stock exchanges about a new investment in the renewable energy sector, showing its focus on cleaner power for its operations. On April 15, 2026, the company announced that it had acquired a minority stake in Mehrauni Electro Power Private Limited, a special purpose vehicle formed for power generation.
As part of the agreement, J.K. Cement subscribed to 21,00,000 equity shares of MEPPL at a face value of Rs. 10 per share. This brings the total investment to ₹2.1 crore. With this transaction, the company now holds a 9.77% equity stake in MEPPL. J.K. Cement also clarified that the deal is not a related party transaction, and its promoters or group companies had no earlier connection with MEPPL. The investment was carried out at arm’s length.
MEPPL is a Delhi-based company that was incorporated in 2023. It has been set up by Onward Solar Power Private Limited to develop a solar power project. The company is currently building a 40 MW AC solar plant in Prayagraj District. This project is being developed under a group captive model, which allows companies like J.K. Cement to invest in power projects and use the electricity for their own consumption.
The main purpose of this investment is linked to a power supply arrangement. Under a Power Purchase Agreement, MEPPL and Onward Solar Power will supply 7 MWp of solar power to J.K. Cement’s manufacturing unit located in Prayagraj. This move is expected to help the company reduce its dependence on conventional energy sources and ensure a steady supply of green power for its plant operations.
In terms of financials, MEPPL is still in the early stage of development. As of March 31, 2025, the company has not reported any turnover, which is normal as the project is still under construction. Its financial statements show a net worth of around negative ₹0.13 crore and a similar loss after tax for the financial year 2024-25. Since the company was incorporated only in 2023, there are no earlier financial records available.
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