Konkan Railway Invites Bids for a 5 MW Solar Project in Karnataka

Month in a Minute: Top Headlines from the Indian Renewable Sector in April 2026

Solar Plus Storage Push Reshapes C&I Renewable Energy Strategy

UPPCL Announces Winners of 1.5 GWh Battery Storage Auction

Daily News Wrap-Up: Top Solar Inverter Suppliers in 2025

Project Finance Brief: Matrix Renewables Secures $332 Million

Funding and M&A Roundup: CATL Raises $5 Billion from Share Placement

Bloom Energy Q1 2026 Revenue Jumps 130% to $751 Million

CERC Approves Key Deviations in 500 MW Pumped Storage Tender

IEX Trades 12 BU of Electricity in April as Unseasonal Rain Moderates Demand


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/04/amazon_polly_94196.mp3?version=1777537528">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Dalmia Cement (Bharat) (<a href="https://www.dalmiacement.com/" target="_blank" rel="noopener">DCBL</a>), a wholly owned subsidiary of Dalmia Bharat, has entered into agreements to acquire a 41% stake in Oyster Green Hybrid Five to source power from its 35.6 MW wind-solar hybrid project on a captive basis.</p>
<p>The stake corresponds to 26% on a fully diluted basis.</p>
<p>Oyster Green Hybrid Five is a special purpose vehicle (SPV) of Oyster Renewable Energy. The hybrid project, comprising 21.6 MW of wind and 14 MW of solar capacity, will supply power to DCBL’s plant in Kadapa, Andhra Pradesh.</p>
<p>The company will invest approximately ₹173.5 million (~$2 million) in one or more tranches to acquire 17.35 million equity shares in the SPV at a face value of ₹10 (~$0.10) each.</p>
<p>The acquisition is expected to be completed within four months of the date of the agreement.</p>
<p>Dalmia Bharat said the investment is aimed at increasing its renewable energy sourcing as part of its goal to achieve 100% renewable electricity by 2030 and become carbon-negative by 2040.</p>
<p>This March, DCBL <a href="https://www.mercomindia.com/dalmia-cement-to-source-8-1-mw-of-wind-power-from-ultra-mega-power" target="_blank" rel="noopener">entered</a> into agreements with Ventora Energy, an SPV of Ultra Mega Power, to source up to 8.1 MW of captive wind power in Tamil Nadu.</p>
<p>In January this year, DCBL <a href="https://www.mercomindia.com/dalmia-sells-its-stake-in-o2-powers-wind-energy-spv-for-%E2%82%B9108-2-million" target="_blank" rel="noopener">sold</a> its entire 25.44% stake in O2 Power’s SPV O2 Renewable Energy V (OREV) for ₹108.2 million (~$1.2 million). The company had acquired the stake in the SPV to source 11 MW of wind energy from its project in Karnataka as a captive consumer. Dalmia transferred 12.23% of its stake in OREV to JSW Neo Energy, 4.99% to Goldman Sachs Services, and 8.23% to Syngene International.</p>
<p>Earlier, the company <a href="https://www.mercomindia.com/dalmia-cement-expands-solar-use-to-procure-128-mw-from-oriana" target="_blank" rel="noopener">announced</a> that it would source up to 128 MW of solar power from an under-construction Tamil Nadu-based project by Oriana Power’s SPV TrueRE Surya. Dalmia invested ₹428.7 million (~$4.74 million) to acquire more than 26.26 million equity shares for a 26% stake in TrueRE Surya.</p>
<p>Mercom India <a href="https://www.mercomindia.com/event/c-and-i-clean-energy-meet" target="_blank" rel="noopener">hosts</a> a multi-city C&amp;I Clean Energy Meets series to equip commercial and industrial energy buyers with the insights and tools needed to adopt clean energy solutions and reduce electricity costs. The next Clean Energy Meet will be <a href="https://www.mercomindia.com/event/c-and-i-clean-energy-meet-2026-jodhpur">held</a> in Jodhpur on May 15, 2026.</p>


Dalmia Subsidiary to Source Power from Oyster’s 35.6 MW Hybrid Project


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/01/amazon_polly_89246.mp3?version=1768825427">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Dalmia Cement (Bharat), a wholly owned subsidiary of <a href="https://www.dalmiacement.com/" target="_blank" rel="noopener">Dalmia Cement Bharat,</a> has sold its entire 25.44% stake in renewable energy solutions provider <a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>’s special purpose vehicle (SPV) O2 Renewable Energy V (OREV) for ₹108.2 million (~$1.2 million).</p>
<p>The company had acquired the stake in the SPV to source 11 MW of wind energy from its project in Karnataka as a captive consumer.</p>
<p>Dalmia has transferred 12.23% of its stake in OREV to JSW Neo Energy, 4.99% to Goldman Sachs Services, and 8.23% to Syngene International.</p>
<p>The company will not be associated with OREV after the sale.</p>
<p>Dalmia invested in OREV in phases. In April 2024, it acquired 18.13% equity stake in OREV’s 11 MW wind project, investing approximately ₹78.10 million (~$940,000). In August 2024, invested ₹35.1 million (~$420,000) to increase its equity stake by another 7.31%, bringing the total to 25.44%. Dalmia had a short-term PPA with OREV for this wind project.</p>
<p>In its 2024-2025 annual report, Dalmia Bharat said approximately 36% of its power consumption comes from renewable sources. This is a 3% increase from the previous year. By FY2025, Dalmia Bharat had commissioned 59 MW of wind and solar capacity under a group captive arrangement. This is in addition to 136 MW of in-house solar capacity and 72 MW of waste heat recovery-based generation capacity. As part of its commitment to expanding renewable energy use, the company is increasing its solar power capacity and has also begun procuring hydropower.</p>
<p>In December 2024, Dalmia <a href="https://www.mercomindia.com/dalmia-cement-expands-solar-use-to-procure-128-mw-from-oriana" target="_blank" rel="noopener">announced</a> it would source wind power from Atria’s 6 MW wind power project in Karnataka as a captive consumer. The company acquired 5.39% equity in Atria Wind Power for ₹34.7 million (~$412,749).</p>
<p>Dalmia has also recently signed agreements to source solar power.</p>
<p>The company has <a href="https://www.mercomindia.com/dalmia-cement-expands-solar-use-to-procure-128-mw-from-oriana" target="_blank" rel="noopener">invested</a> ₹428.7 million (~$4.74 million) for a 26% stake to source up to 128 MW of solar power from a Tamil Nadu-based under-construction project of Oriana Power’s SPV TrueRE Surya.</p>
<p>Mercom India hosts a multi-city C&amp;I Clean Energy Meets series to equip commercial and industrial energy buyers with the insights and tools needed to adopt clean energy solutions and reduce electricity costs. The next Clean Energy Meet will be <a href="https://www.mercomindia.com/event/c-and-i-clean-energy-meet-2026-coimbatore" target="_blank" rel="noopener">held</a> in Coimbatore on February 5, 2026.</p>
<p>If you’re planning to install solar and need guidance or vendor recommendations, <a href="mailto:sales@mercomindia.com" target="_blank" rel="noopener">get in touch</a> with us.</p>


Dalmia Sells its Stake in O2 Power’s Wind Energy SPV for ₹108.2 Million


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2026/01/amazon_polly_89188.mp3?version=1768572471">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Dalmia Cement (Bharat), a wholly owned subsidiary of <a href="https://www.dalmiacement.com/" target="_blank" rel="noopener">Dalmia Cement Bharat</a>, will source up to 128 MW of solar power from a Tamil Nadu-based under-construction project of Oriana Power’s special purpose vehicle (SPV) TrueRE Surya.</p>
<p>Dalmia invested ₹428.7 million (~$4.74 million) to acquire more than 26.26 million equity shares for a 26% stake in TrueRE Surya.</p>
<p>The company will procure power from TrueRE Surya to enhance its renewable power supply, to achieve its RE 100 commitment by 2030, and to become carbon negative by 2040.</p>
<p>In its 2024-2025 annual report, Dalmia Bharat said approximately 36% of the power it consumes comes from renewable sources. This is a 3% increase from the previous year. It has commissioned a group captive solar and wind capacity of 59 MW and has expanded the capacity of its solar projects to 23.2 MW.</p>
<p>The company has an existing solar capacity of 136 MW.</p>
<p>Additionally, Dalmia said it secured 338 MW of renewable energy through group captive power purchase agreements. It also installed 16 solar river lift and 46 solar water lift systems.</p>
<p>The company also buys power on the Green Term Ahead Market platform of the Indian Energy Exchange.</p>
<p>In October last year, Dalmia Cement (Bharat) <a href="https://www.mercomindia.com/dalmia-cement-increases-solar-energy-sourcing-by-14-mw" target="_blank" rel="noopener">announced</a> it would source 14 MW of solar power as a captive consumer from Velan Infra Projects, a renewable energy solutions provider, through three SPVs in Tamil Nadu.</p>
<p>Dalmia also announced that it will source up to 20 MW of solar power through Velan’s Tamil Nadu-based SPVs, Gee Yess India Engineering Technology, and San Power Generation Transmission, as a captive consumer. Dalmia signed a share subscription and shareholders’ agreement to acquire a stake in these SPVs for an aggregate consideration of ₹60 million (~$679,695).</p>
<p>Earlier, Dalmia Cement Bharat <a href="https://www.mercomindia.com/dalmia-cement-to-procure-10-mw-solar-power-from-captive-project" target="_blank" rel="noopener">announced</a> it would procure 10 MW of power from Kilavikulam Rajalakshmi Solar Power Developer’s captive solar project in Tamil Nadu.</p>


Dalmia Cement Expands Solar Use, to Procure 128 MW from Oriana

dalmia-cement-bharat

Get the most relevant India solar and clean energy news.

RECENT POSTS