Shree Cement plans a 106 MW of solar projects to meet its captive power needs

Kolkata-based Shree Cement is planning to construct 106 MW of solar power projects to meet the captive power needs of its cement manufacturing facilities at various locations. The company aims to maximise the use of sustainable energy in its operations. The proposed capacity is expected to be added by September 2022. The company will invest approximately Rs 5 billion to develop these solar projects.

To cut electricity bills and have green operations, large power customers are moving toward the open access route for purchasing solar power. Most industrial customers choose the group captive and captive model as their manufacturing facilities do not have adequate roof area to produce solar energy. Industrial user’s renewable purchase obligations (RPO) are considerably increasing, and purchasing power from open access solar projects has become a necessity.

In July 2021, Mahindra & Mahindra signed a power purchase agreement with ReNew Sunlight Energy, a subsidiary of ReNew Green Energy Solutions, to procure solar power from its open access project as a captive consumer. In December 2020, Orient Cement, a subsidiary of Indian conglomerate CK Birla Group, announced that it would acquire a 26 per cent stake in AMP Solar Systems Private Limited for Rs 40.5 million to set up a 13.5 MW solar project for captive power generation.

GET ACCESS TO OUR ARTICLES

Enter your email address