Shree Cement commits to 100 percent renewable power

April 25, 2024 3:55 pm

Shree Cement is committed to reducing thermal power use and boosting renewable electricity usage, aligning with national standards. India has invested in solar and wind power, with 236 MW of facilities constructed and 112 MW of plants planned in five states.

Shree Cement, one of India’s largest cement producers with an installed capacity of over 56 MTPA, is proud to announce its participation in the prestigious RE100 initiative, a global initiative led by Climate Group that advocates for businesses to switch to 100 percent renewable electricity for all operations. This pledge demonstrates Shree’s determination to expedite the worldwide transition to 100 percent renewable power usage among significant enterprises.

Neeraj Akhoury, Managing Director, Shree Cement Ltd said on the milestone, “Joining the RE100 initiative is a significant step in our journey towards becoming a modern and green building material company. We are committed to transitioning our operations to 100 percent renewable electricity consumption and accelerating investments in renewable electricity infrastructure. Our aim is to set a benchmark for sustainability within the cement sector and inspire positive change throughout the industry.”

Shree Cement is dedicated to lowering thermal power use while boosting renewable electricity usage in line with national standards. India has made significant investments to grow its solar and wind electricity portfolio, with 236 MW solar and wind power facilities constructed around the country, totaling about ₹. 1050 Crores. Additional 112 MW solar power plants are being built in five states: Jharkhand, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand. 36MW wind power stations are being planned in Rajasthan. The anticipated investment for these solar and wind power projects exceeds ₹ 700 crores.

Atul Mudaliar, Director of Systems Change-India, Climate Group said, “Shree Cement’s commitment to use 100 percent renewable electricity by 2050 is commendable. Their plans as part of our RE100 initiative show that businesses in cement and other hard-to-abate sectors can transition their operations to become more sustainable, if they set their sights on this goal. This is the outlook the world needs from businesses to tackle climate change head-on.”

Neeraj Akhoury added, “With sustainability as the cornerstone of our growth strategy, we have been pioneers in adopting innovative technologies to minimise consumption of non-renewable sources and reduce emissions. We are also exploring innovative techniques to enhance renewable electricity usage such as battery storage, pump storage, green hydrogen, among others.”

Shree Cement will prioritise close collaboration with stakeholders, local communities, and government agencies to address challenges and promote the widespread adoption of renewable electricity solutions. The company will ensure transparent monitoring and reporting of progress towards renewable electricity goals, demonstrating Shree’s dedication to accountability and sustainability.