25.06.2024 18:26

Shree Cement hits 1 GW in installed power capacity, sets sights on expanding green energy

Shree Cement Ltd, India’s third largest cement manufacturer, announced that it has reached a total installed power capacity of one gigawatt (GW), or 1,000 megawatts (MW). This includes the recent commissioning of a 19.5 MW solar power plant at its unit in Andhra Pradesh.

The company's power capacity is composed of solar, wind, thermal, and waste heat recovery plants, with a notable Rs 4,000 crore invested to enhance its renewable energy portfolio, which now accounts for nearly 50 per cent of the total at 499 MW. The 244 MW capacity from waste heat recovery ranks among the highest in the global cement industry

Shree Cement plans further expansion with an estimated Rs 1,000 crore capital expenditure in FY25 to install an additional 132 MW solar capacity across five states—Jharkhand, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand—plus 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery in Karnataka and Rajasthan.

"Today nearly 56 per cent of our power requirement is met from renewable resources, which is the highest in the Indian cement industry," said Neeraj Akhoury, Managing Director, Shree Cement. He added, "Achieving a power capacity portfolio of this size ensures that we have abundant electricity to not just power our existing cement production but also our expansion projects. We will contribute the surplus power to states and the central grid."

Akhoury also shared the company's commitment to sustainability, highlighting their membership in the RE100 initiative with a pledge to harness 100 percent renewable electricity across all operations by 2050. Shree Cement's sustainability agenda includes exploring advanced techniques like battery storage, pump storage, and green hydrogen.

Shree Cement aims to increase its capacity from 56.4 million tonnes per annum (MTPA) to 80 million tonnes by 2028, reinforcing its position in the industry and its commitment to environmental stewardship.

Region: India
Source: Energy World
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