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Home » News » Shree Cement achieves 1 GW of installed power capacity  

Shree Cement achieves 1 GW of installed power capacity  

June 26, 2024 6:58 pm

Shree Cement achieves 1 GW of installed power capacity  
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The company plans to invest ₹ 1000 crore in FY25 to install an additional 202 MW of renewable energy capacity, bringing its renewable energy portfolio to nearly 50 percent.

Shree Cement Ltd., India’s third-largest cement manufacturer by capacity, is proud to announce 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 totalling ₹4000 crores have been made to expand the renewable portfolio, which now accounts for nearly 50 percent of the installed power capacity at 499 MW. Shree Cement’s 244 MW capacity from waste heat recovery is one of the highest in the global cement industry.

Looking ahead, an estimated capex of ₹ 1000 crore is planned for FY25 to install additional RE capacity. This will include 132 MW of 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 of Shree Cement, said, “Achieving a power capacity portfolio of this size ensures that we have abundant electricity not just to 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 sustainably and cost-effectively. Today, nearly 56 percent of our power requirement is met from renewable resources, 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, Akhoury added.

Shree Cement recently announced its membership in the RE100 initiative, committing to harnessing 100 percent renewable electricity for its operations by 2050. With sustainability as the cornerstone of the company’s growth strategy, Shree Cement has pioneered innovative technologies to minimise the consumption of non-renewable sources and reduce emissions. The company is also exploring advanced techniques to enhance renewable electricity usage, such as battery storage, pump storage, and green hydrogen.

Shree Cement is firmly on track to becoming a modern and green building materials company. It aims to increase its current capacity from 56.4 MTPA to 80 million metric tonnes by 2028.

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