Shree Cement Invests Rs. 4,000 Crore in Renewable Energy

Shree Cement Limited is India’s third-largest cement manufacturer by capacity. Since its foundation in 1979, the company has been committed to the cause of sustainable, inclusive growth through the pursuit of innovation and operational excellence. The company is currently a member of the RE100 initiative, committing to transition 100% of its electricity consumption to renewable sources by 2050. It is also the first ever cement company to be accorded a 5-star rating for manufacturing excellence by Whitehopleman UK. With plans of expansion and growth in mind, the cement manufacturer announced its plan to Rs.1000 Crore in FY25 to install an additional 202MW of renewable energy capacity in specific regions of India, on 24 June 2024.

Company’s renewable footprints:

The new solar capacity will include 132 MW in 5 states– Haryana, Uttarakhand, Rajasthan, Uttar Pradesh, and Jharkhand. A 36 MW wind generation capacity will be installed in Rajasthan along with 34MW of waste heat recovery capacity in Karnataka and Rajasthan. The integration of green electricity helped in sustainable and cost-effective cement production. Highlighting the company’s membership with the RE100 initiative, the company’s sustainability agenda includes advanced techniques like battery storage, pump storage, and green hydrogen.

Past milestones:

With a 19.5MW solar power plant establishment in Andhra Pradesh, the company has already achieved a significant milestone of 1,000 MW of installed power capacity. This 1 GW capacity includes a mix of solar, wind, thermal, and waste heat recovery plants. This diversified approach shows Shree Cement’s commitment to ensuring renewable energy sources and sustainable generation of electricity. To expand the renewable energy portfolio of the company, an investment totaling Rs.4000 Crore has been made, which now accounts for nearly 50% of installed power capacity at 499MW. Notably, Shree Cement’s 244 MW capacity from waste heat recovery is one of the highest in the global cement industry.

Conclusion: Nearly 56% of the company’s power requirement is met from renewable resources, which is the highest in the Indian cement industry. Achieving a power capacity portfolio of this size ensures abundant electricity for the company to power existing and expansionary cement production projects.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.