DCM Shriram Limited — Important, 09-12-2024: General Updates

DCM Shriram Limited has entered into a definitive agreement with JSW Renew Energy Thirty Two Limited to invest up to Rs. 60 crore in a Special Purpose Vehicle for a Wind Solar Hybrid renewable power project. This initiative aims to replace 40 MW of existing coal-based power with 68 MW of renewable energy, providing approximately 34 MW on average. The acquisition is structured as a cash consideration amounting to Rs. 57.12 crore for a 28% stake. Expected completion of this project is projected for March 2026. This move aligns with the company’s strategy to enhance its renewable energy portfolio, reflecting a positive outlook in the sector and a commitment to sustainability.