Dalmia Bharat Acquires 26% Stake in Solsolis Solar to Boost Renewable Energy Goals

Dalmia Bharat strengthens its renewable energy portfolio by acquiring a 26% stake in Solsolis Solar, aiming to meet its RE 100 and carbon-negative goals. Read more about this strategic move.

Dalmia Bharat Ltd. has taken a significant step in advancing its renewable energy agenda by acquiring a 26% stake in Solsolis Solar Energy Solutions Pvt. Ltd., through its subsidiary, Dalmia Cement (Bharat) Ltd. (DCBL). The deal, valued at INR 3.02 crore, is structured as a Share Subscription and Shareholders Agreement (SSSHA) and will be executed in multiple tranches.

Dalmia Bharat's Sustainability Goals

This acquisition enables Dalmia Bharat to tap into solar power as a captive consumer, targeting an 11.2 MW solar capacity in Odisha. The move aligns with the company’s broader sustainability objectives, which include achieving 100% renewable energy (RE 100) by 2030 and becoming carbon negative by 2040. By enhancing its solar power sourcing, Dalmia Bharat aims to strengthen its environmental stewardship and move closer to its ambitious clean energy targets.

Solsolis: A Special Purpose Vehicle for Solar Development

Solsolis Solar Energy Solutions, incorporated in April 2024, operates as a Special Purpose Vehicle (SPV) focused on developing solar power projects exclusively for captive use. Its operations in Odisha will play a crucial role in fulfilling Dalmia Bharat’s renewable energy needs, further bolstering the company's efforts to reduce its carbon footprint.

Strengthening Renewable Energy Capabilities

The acquisition is expected to be finalized within eight months, subject to standard regulatory conditions. As the renewable energy sector continues to evolve, Dalmia Bharat’s investment in Solsolis underscores its commitment to sustainable practices and innovation in energy sourcing. This strategic move not only enhances the company’s operational capabilities but also reinforces its dedication to achieving national and global sustainability goals.