Shree Cement’s installed power CAP at 1 GW

Gurugram, June 24, 2024: Shree Cement Ltd announced that it has achieved a significant milestone of one GW (1,000 MW) of installed power capacity. This accomplishment was marked by the commissioning of a 19.5 MW solar power plant at its manufacturing unit in Andhra Pradesh. 

The 1 GW capacity includes a mix of solar, wind, thermal and waste heat recovery power plants.

Significant investments totaling Rs 4000 crore have been made to expand the renewable portfolio, which now accounts for nearly 50% of the installed power capacity at 499 MW. 

An estimated capex of Rs 1000 crore is planned in FY25 for installation of additional RE capacity, mentions a press release issued by the company. This will include 132 MW solar capacity in five states – Jharkhand, Haryana, Rajasthan, Uttar Pradesh and Uttarakhand, 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnataka and Rajasthan.

Commenting on this milestone, Neeraj Akhoury, Managing Director, Shree Cement said, “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 central grid.”

“Significant integration of green electricity has helped us produce cement in a more sustainable and cost-effective manner. Today nearly 56% of our power requirement is met from renewable resources which is the highest in the Indian cement industry. Our aim is to set a benchmark for sustainability within the cement sector and inspire positive change throughout the industry,” Akhoury added. 

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Recently, Shree Cement announced its membership in the RE100 initiative, committing to harness 100 percent renewable electricity for its entire operations by 2050.