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Dalmia Cement Steps Up Renewable Push with 128 MW Solar Power Tie-Up with Oriana
Jan 17, 2026
Dalmia Cement (Bharat), a wholly owned arm of Dalmia Cement Bharat, has entered into an arrangement to source up to 128 MW of solar power from a Tamil Nadu-based solar project being developed by TrueRE Surya, a special purpose vehicle of Oriana Power.
To facilitate the arrangement, Dalmia Cement (Bharat) has invested Rs428.7 million ($4.74 million) to acquire over 26.26 million equity shares, securing a 26% stake in the project SPV. The move is aimed at strengthening the company’s renewable energy portfolio as it works toward its RE100 target by 2030 and its goal of becoming carbon negative by 2040.
According to Dalmia Bharat’s FY 2024–25 annual report, renewable sources currently account for about 36% of the company’s total electricity consumption, reflecting a 3% year-on-year increase. During the year, the company commissioned 59 MW of group captive solar and wind capacity and expanded its solar installations to 23.2 MW.
Dalmia Cement currently operates 136 MW of installed solar capacity. In addition, the company has tied up 338 MW of renewable power through group captive power purchase agreements. It has also deployed 16 solar river-lift systems and 46 solar water-lift systems to further support clean energy adoption.
Beyond captive and group captive arrangements, Dalmia sources renewable power through the Green Term Ahead Market (GTAM) segment of the Indian Energy Exchange.
In October 2025, Dalmia Cement (Bharat) announced plans to procure 14 MW of solar power as a captive consumer from Velan Infra Projects through three Tamil Nadu-based SPVs. The company also revealed plans to source up to 20 MW of additional solar capacity from Velan’s SPVs—Gee Yess India Engineering Technology and San Power Generation Transmission.
For these projects, Dalmia entered into share subscription and shareholders’ agreements involving a total investment of Rs60 million ($679,695).