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JK Lakshmi Cement will acquire 21% stake in solar company Amplus Helios

Sep 20, 2023

By: BlinkX Research Team

JK Lakshmi Cement, a cement producer, stated on Monday, September 18, that it will invest Rs 21.60 crore in acquiring a 20.80 percent share in Amplus Helios Private Ltd (AHPL).

This strategic investment is a part of JK Lakshmi Cement's aim to use a captive power plant model to secure a reliable supply of 40 MWAC (mega-watt alternating current) solar power for its Durg unit.

In the Mungeli district of Chhattisgarh, at P.O. Chakarbhatha, Amplus Helios is working diligently to build a 50 MWAC solar power plant.

JK Lakshmi Cement will have exclusive access to 80 percent, or 40 MWAC, of this total capacity for its captive consumption. As part of the arrangement, the remaining 10 MWAC (20% of the capacity) will be supplied to other private organizations.

On January 7, 2022, AHPL was incorporated The AHPL generated a total income of Rs 14.50 lakh from January 7, 2022 (the date of incorporation), to December 31, 2022.