Ambuja Cements has announced plans to set up 1 GW of renewable energy projects at an investment of ₹6000 crore. The projects will be a mix of solar and wind energy and will be developed in Gujarat and Rajasthan.
The company will set up a 600 MW solar project and a 150 MW wind energy project in Gujarat. In Rajasthan, Ambuja Cement is planning to develop another 250 MW solar project. All these solar installations are expected to be completed by the financial year 2025-2026.
Moreover, the company plans to increase its capacity gradually, aiming for 284 MW by fiscal year 2024, 640 MW by fiscal year 2025, and 1.09 GW by fiscal year 2026.
Ambuja Cements is one of the biggest manufacturers of cement in India. Currently, the company has a total solar and wind capacity of 84 MW and has made significant plans to increase its green energy share among competitors.
Upon the successful implementation of all the renewable energy (RE) projects, the company expects a decrease in the cost of power from ₹6.46 per kWh to ₹5.16 per kWh.
“This strategic investment reaffirms our steadfast commitment to sustainable practices. We are not just aiming for a substantial increase in green power capacity but setting the stage for a transformative shift in the cement industry. They align not only with our growth trajectory but also with the national objective of de-carbonization and a greener future, and this helps us become competitive and sustainable. The adjacencies within the Group will further catalyze benefit realization.” Says Mr.Ajay Kapur, CEO, Ambuja Cement.
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Resource: Mercom India
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