JK Cement Invests ₹2.81 Crore in Solar-Storage SPV for Rajasthan Project

JK Cement has invested ₹2.81 crore in Truere Current, acquiring a 26% equity stake as part of its long-term renewable energy and energy cost optimisation strategy. The investment supports the development of a solar power project integrated with a Battery Energy Storage System (BESS) in Rajasthan.

The project is linked to a Power Purchase Agreement (PPA) to supply 40 MWp of solar energy to JK Cement’s Gotan manufacturing facility, helping the company reduce dependence on conventional power sources and improve energy efficiency in its cement operations.

According to regulatory filings, Truere Current is a special-purpose vehicle promoted by Oriana Power and is developing the solar-storage project in Tehsil Bap, District Phalodi, Rajasthan. JK Cement subscribed to 21.84 lakh equity shares with a face value of ₹10 each at a premium of approximately ₹2.88 per share, taking the total investment to ₹2,81,45,490 under a Share Subscription and Shareholders’ Agreement.

Incorporated on April 15, 2024, Truere Current is headquartered in Gautam Buddha Nagar. The company reported nil turnover, a net worth of ₹35.93 crore, and a net loss of ₹0.37 crore for FY25.

The investment reflects a broader trend within India’s cement sector, where companies are increasingly integrating renewable energy and storage systems to reduce operational costs, improve power reliability, and align with sustainability and decarbonisation goals.