Prism Johnson Limited has approved an investment of up to ₹40 crore in KUS Renewable Private Limited, a special-purpose vehicle incorporated by Purvah Green Power Private Limited (PGPPL), a subsidiary of CESC Limited.
The investment will support the development of a 49.5 MW captive wind power project at Tehsil Alot in Ratlam district, Madhya Pradesh. The project is planned to supply dedicated renewable power to Prism Johnson’s cement plant in Satna, Madhya Pradesh, under a proposed Power Purchase Agreement (PPA).
Prism Johnson said the project will enable the company to procure renewable power at a lower cost and help reduce the cost of cement production. The investment is also intended to increase renewable energy utilisation, improve energy efficiency and optimise resource use as part of the company’s ESG objectives.
Prism Johnson to Acquire at Least 26.5% Equity Stake
Under the proposed transaction, Prism Johnson will acquire equity shares with voting rights representing at least 26.5% of KUS Renewable’s equity share capital, in addition to redeemable preference shares.
The investment will be made through cash consideration via normal banking channels, with the total acquisition cost capped at ₹40 crore. The transaction is expected to be completed by October 31, 2027.
The filing states that the proposed acquisition does not constitute a related-party transaction, while the promoter, promoter group and group companies have no interest in the proposed acquisition. No government or regulatory approvals are required for the acquisition, according to the disclosure.
49.5 MW Captive Wind Project in Ratlam
KUS Renewable Private Limited was incorporated in India on September 26, 2024, by PGPPL. The company has been established as an SPV for the proposed wind power project.
The 49.5 MW wind project will be located in Tehsil Alot, Ratlam district, and will supply dedicated renewable electricity to Prism Johnson’s Satna cement plant under the proposed PPA. KUS has not yet commenced business operations and reported nil turnover during the preceding two financial years.
The investment marks Prism Johnson’s planned expansion of renewable power utilisation for its cement manufacturing operations, with the captive wind project expected to support both energy-cost management and the company’s sustainability objectives.
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