Cement manufacturer JK Lakshmi Cement on Monday (September 18) announced that it will invest Rs 21.60 crore to acquire 20.80 percent stake in Amplus Helios Private Ltd (AHPL).

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

Amplus Helios is actively engaged in the development of a 50 MWAC solar power plant located at P.O Chakarbhatha in the Mungeli district of Chhattisgarh.

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Of this total capacity, 80 percent equivalent to 40 MWAC will be exclusively allocated to JK Lakshmi Cement for its captive consumption. The remaining 10 MWAC (20 percent of the capacity) will be supplied to other private entities, as part of the arrangement.

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

Shares of JK Lakshmi Cement Ltd ended at Rs 648.50, down by Rs 4.65, or 0.71 percent, on the BSE.

(Edited by : Shoma Bhattacharjee)