Carborundum Universal Invests in Grian Energy
POWER & RENEWABLE ENERGY

Carborundum Universal Invests in Grian Energy

Engineering company Carborundum Universal (CUMI) has invested ?80 million (~$954,426) to acquire a 4.19% stake in New Delhi-based Grian Energy (GEPL), which is developing a renewable energy project. This investment enables Carborundum to access a contracted capacity of approximately 10 MW in GEPL's captive power project, supported by a power purchase agreement.

GEPL plans to develop and operate a solar and wind-based captive power project to supply electricity tailored to Carborundum's energy requirements. The acquisition is projected to be finalized by March 2025, following a share subscription and shareholders' agreement with GEPL and its parent company, Amplus Energy Solutions.

As a Murugappa Group company, Carborundum specializes in manufacturing abrasives, ceramics, refractories, aluminum oxide grains, machine tools, polymers, adhesives, and electro minerals. This investment aligns with the company's sustainability objectives, especially given its energy-intensive manufacturing processes. By sourcing clean energy, Carborundum aims to reduce its carbon footprint.

In its 2023 annual report, the company noted that it has commissioned about 1.5 MW of solar systems across its units. Additionally, it has initiated a project in collaboration with a solar power producer to install a 1.8 MVA solar project at its Edappally campus.

Across India, numerous companies in the commercial and industrial (C&I) segment are increasingly adopting captive, open access, and rooftop solar solutions to cut power costs while also striving to achieve their net-zero targets. Insights on corporate renewable energy adoption were shared at the Mercom Indian Renewables Summit 2024, highlighting the market's current state and challenges.

Mercom India is also organizing a series of C&I Clean Energy Meets to facilitate discussions among clean energy developers, C&I representatives, and banks regarding power requirements, cost benefits, and challenges. The next event in this series will be held in Pune on September 20, 2024.

Engineering company Carborundum Universal (CUMI) has invested ?80 million (~$954,426) to acquire a 4.19% stake in New Delhi-based Grian Energy (GEPL), which is developing a renewable energy project. This investment enables Carborundum to access a contracted capacity of approximately 10 MW in GEPL's captive power project, supported by a power purchase agreement. GEPL plans to develop and operate a solar and wind-based captive power project to supply electricity tailored to Carborundum's energy requirements. The acquisition is projected to be finalized by March 2025, following a share subscription and shareholders' agreement with GEPL and its parent company, Amplus Energy Solutions. As a Murugappa Group company, Carborundum specializes in manufacturing abrasives, ceramics, refractories, aluminum oxide grains, machine tools, polymers, adhesives, and electro minerals. This investment aligns with the company's sustainability objectives, especially given its energy-intensive manufacturing processes. By sourcing clean energy, Carborundum aims to reduce its carbon footprint. In its 2023 annual report, the company noted that it has commissioned about 1.5 MW of solar systems across its units. Additionally, it has initiated a project in collaboration with a solar power producer to install a 1.8 MVA solar project at its Edappally campus. Across India, numerous companies in the commercial and industrial (C&I) segment are increasingly adopting captive, open access, and rooftop solar solutions to cut power costs while also striving to achieve their net-zero targets. Insights on corporate renewable energy adoption were shared at the Mercom Indian Renewables Summit 2024, highlighting the market's current state and challenges. Mercom India is also organizing a series of C&I Clean Energy Meets to facilitate discussions among clean energy developers, C&I representatives, and banks regarding power requirements, cost benefits, and challenges. The next event in this series will be held in Pune on September 20, 2024.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?