The domestic cement manufacturer reached the milestone with the establishment of their new solar plant in Andhra Pradesh.
On Monday, Shree Cement announced it had reached an installed portfolio of 1,000 MW (1 GW) of renewable energy. The company has achieved this with their latest commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit.
The company has invested Rs 4,000 crore to expand its renewable portfolio, representing almost half of its installed power capacity. It further plans to invest approximately Rs 1,000 crore in the fiscal year 2025 to install more renewable energy capacity.
The firm highlighted that the 1 GW capacity incorporates solar, wind, thermal, and waste heat recovery power plants. These plants vary in their ability to meet cement production’s electricity demands.
Furthermore, as part of its expansion efforts, Shree Cement plans to install 132 MW of solar capacity in Jharkhand, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand. It aims to add 36 MW of wind power generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnataka and Rajasthan.
The Managing Director of Shree Cement, Neeraj Akhoury, mentioned that attaining such a substantial power capacity portfolio ensures ample electricity for current cement production and upcoming expansion projects. He added that surplus power would be supplied to state and central grids.
The company currently operates with a capacity of 56.4 million tonnes per annum (MTPA) and plans to expand to 80 MTPA by 2028. These efforts underscore the company’s aim to expand its renewable energy presence across several states, promote sustainable energy practices, and bolster its overall capacity for green energy generation.
Shree Cement claims to focus on decreasing energy consumption and carbon emissions and adopting alternative fuel sources, calling itself one of India’s most carbon-efficient cement firms. The company also claims that in 2011, the World Economic Forum recognised it as the sole cement company nominated as a New Sustainability Champion.
