JSW Cement to Acquire 26% Stake in JSW Green Energy Fifteen for Captive Solar Power

JSW Cement Ltd. late Friday said its board has approved the acquisition of a 26% stake in JSW Green Energy Fifteen Ltd. for ₹217.8 million. The company will source solar power from a captive 60-megawatt solar plant being developed by JSW Green Energy Fifteen in Rajasthan, it said in an exchange filing.

Following the transaction, JSW Green Energy Fifteen will become an associate company of JSW Cement. The renewable energy firm is a wholly owned subsidiary of JSW Neo Energy Ltd. and a step-down subsidiary of JSW Energy Ltd.