India Cements announced plans to acquire a 3.62% stake in Zenataris Renewable Energy, a special purpose vehicle developing a hybrid renewable energy project in Karnataka. The company signed energy supply and share subscription agreements worth over ₹20 crore, aiming to secure 11 MW of renewable power for its cement plants. The transaction is expected to complete within 120 days, according to an exchange filing dated October 15, updated October 16, 2026, per livemint.com.
The Hyderabad-based Zenataris Renewable Energy project is linked to the inter-state transmission system and will supply power under the group captive model. India Cements’ investment aligns with its strategy to meet captive power needs, optimize energy costs, and comply with regulatory requirements on captive power consumption. The agreements provide a framework for both equity participation and renewable power procurement, though the company has not disclosed further financial details, livemint.com reported.
This move positions India Cements to enhance sustainability by integrating renewable energy into its operations, reflecting a broader industry trend toward green energy adoption. The deal follows recent market interest in renewable projects linked to manufacturing sectors. India Cements’ share price jumped nearly 8% on October 21, indicating investor approval of the renewable energy investment, according to livemint.com.
The acquisition and power supply deal is expected to be finalized within 120 days of the agreement execution, marking a significant step in India Cements’ renewable energy strategy and operational cost management, as detailed in the company’s exchange filing.