JK Cement has increased its shareholding in O2 Renewable Energy V Private Limited as part of its ongoing transition toward sustainable power sourcing. The company purchased an additional 12.21% equity from JSW Neo Energy, raising its total stake in the renewable energy company from 16.76% to 28.97%. The transaction details were shared through a regulatory filing.
The latest acquisition includes 46,45,658 equity shares valued at ₹5.19 crore, purchased entirely through cash consideration at a rate of ₹11.18 per share. JK Cement stated that the amended shareholding will be reflected through updates to the existing Share Subscription and Shareholders Agreement. The deal has been confirmed to be executed on an arm’s-length basis and does not involve related parties, with no regulatory approvals required.
About O2 Renewable Energy V
O2 Renewable Energy V, incorporated in May 2022, focuses on developing and operating renewable power assets. The company currently manages a 22 MW wind power facility that supplies electricity to JK Cement and select consumers. The project is part of a larger 240 MW wind-solar hybrid energy park located in Karnataka.
Key financials of the entity as of March 31, 2025, include:
- Turnover: ₹20.29 crore
- Profit after tax: ₹0.81 crore
- Net worth: ₹43.27 crore
The Special Purpose Vehicle (SPV) is headquartered in Delhi and operates under a foreign holding entity.
This investment marks another step in JK Cement’s strategy to expand its clean energy portfolio, ensuring long-term power cost stability and reduced carbon footprint as sustainability regulations tighten across the sector.
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