Saurashtra Cement Limited
Execution of Power Consumption and Share Purchase Agreements for Renewable Power Sourcing
Main Body:
Saurashtra Cement Limited (the "Company" or "Captive User") has entered into two agreements on 28th September 2026:
1. A Power Consumption Agreement with Jamnagar Renewables Two Private Limited ("Power Producer")
2. A Share Purchase & Shareholders' Agreement with the Power Producer and Continuum Green Energy Limited ("Promoter")
The purpose is to source renewable power under a Group Captive Wind-Solar Hybrid power arrangement to meet the Company's power requirements and sustainability objectives.
Financial Details: The Company will make an equity investment of approximately ₹14.92 Crore by purchasing 1,49,22,600 equity shares of ₹10/- each of Jamnagar Renewables Two Private Limited. This investment represents a 26% stake in the power producer, making Saurashtra Cement Limited a captive user under the Electricity Rules, 2005.
Agreement Terms:
- Contracted capacity: 14 MW Wind-Solar Hybrid power
- Tenure: 25 years from actual commencement date
- Lock-in period: 7 years (to comply with Group Captive requirements under Electricity Rules, 2005)
- The total value of the agreement is not quantified at this stage as it depends on actual energy consumption and tariffs over the 25-year tenure
Approvals: The transaction is subject to receipt of applicable statutory approvals. The company has confirmed that this does not constitute a related party transaction.
Other Key Announcements:
No other material announcements were disclosed in this filing.