Saturday, Jul 13 2024 | Time 07:58 Hrs(IST)
image
Business Economy


Shree Cement to invest Rs 1000 cr to install additional 202 MW renewable energy capacity

Shree Cement  to invest Rs 1000 cr to install additional 202 MW renewable energy capacity

Hyderabad, June 24 (NI) Shree Cement Ltd, India’s third largest cement manufacturer by capacity, on Monday said it has plans to invest Rs 1000 crore in FY25 to install an additional 202 MW of renewable energy capacity.

This will include 132 MW solar capacity in five states - Jharkhand, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand while 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnataka and Rajasthan, the company said in a release here.

It also 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, showcasing Shree Cement’s diversified approach to meeting the electricity demand for cement production.

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

Notably, Shree Cement’s 244 MW capacity from waste heat recovery is one of the highest in the global cement industry.

Commenting on this milestone, Neeraj Akhoury, Managing Director, of 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 the central grid.”

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

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

UNI KNR BD ARN

More News

Gemini Edibles forays into TN, launches products under brand Be-Rite

12 Jul 2024 | 8:21 PM

Chennai, July 12 (UNI) Gemini Edibles and Fats India Ltd, India’s No 1 Sunflower oil company with 21.7% market share All India on Friday launched its products under the brand name Be-Rite, exclusively for the Tamil Nadu market, in Chennai and was eyeing a market share of 10-15 per cent
in five years.

see more..

HCL Tech net up 20 4 pc in Q1; Rs 12 interim dividend declared

12 Jul 2024 | 7:58 PM

New Delhi, July 12 (UNI) IT major HCL Technologies on Friday announced over 20 percent jump in net profit at Rs 4257 crore in the first quarter (April-June) of current financial year corresponding to Rs 3534 crore in the same quarter of previous fiscal.

see more..

FLO StyleTatva exhibition in Hyderabad from July 20

12 Jul 2024 | 7:17 PM

Hyderabad, July 12 (UNI) FICCI Ladies Organisationn's (FLO) two-day signature fashion and lifestyle event StyleTatva will be held here from July 20, the organisers announced on Friday.

see more..

Amazon boasts network of over 50k content creators & social media influencers

12 Jul 2024 | 7:00 PM

Hyderabad, July 12 (UNI) Amazon.in announced on Friday that the company is collaborating with more than 50,000 content creators across the country as part of its Amazon Influencer Programme. Over 10 percent of these creators are from Telangana, reflecting Amazon's focus on regional representation, said Kishore Thota, Director, Shopping Experience, India & Emerging Markets, Amazon, in a press conference here.

see more..
Retail inflation inches up to 5 08 pc in June, stays within RBI tolerance band

Retail inflation inches up to 5 08 pc in June, stays within RBI tolerance band

12 Jul 2024 | 6:35 PM

New Delhi, July 12 (UNI) Primarily on account of high food prices, India's retail inflation measured by consumer price index (CPI) inched up to 5.08% in June 2024 from 4.80% in the previous month, as per data released by Ministry of Statistics & Programme Implementation on Friday.

see more..
image