DCM Shriram will source 50 MW renewable energy from ReNew Power

08 Aug 2022 CW Team

DCM Shriram has committed to purchasing 50 MW of renewable energy from ReNew Power for its chlor-alkali production facility in Bharuch, Gujarat. DCM Shriram, a company that deals in chemicals, sugar, and fertilizers, and ReNew Power announced the signing of two captive power agreements.

According to a regulatory filing, the agreements call for the delivery of 50 MW of renewable energy from ReNew's two future projects in Bhavnagar, Gujarat, to DCM Shriram's chlor-alkali production facility in the Bharuch region.

Ajay S Shriram, senior managing director and chairman of DCM Shriram, said, “We as a group are committed to improving our energy footprint and this is a step in that direction.”

“With a long- term commitment towards ESG (environmental, social, and corporate governance), the captive power agreements for green energy have been signed for 25 years and will mitigate around 2,25,000 tCO2e (carbon emissions) annually," he added. The 50-MW hybrid project, which has over 100 MW of wind and solar producing capacity at its backend, is estimated to provide approximately 250 million units of renewable energy per year for the DCM Shriram's Bharuch site.

ReNew will establish the two hybrid projects with a total investment of roughly Rs 8 billion.

The DCM Shriram Group has revenue of Rs.98.49 billion. DCM Shriram's portfolio includes agri-rural businesses such as urea and sugar, as well as farm solution businesses that cover the entire range of agri-inputs and R&D hybrid seeds; chlor-vinyl businesses such as caustic soda, chlorine, calcium carbide, aluminium chloride, PVC resins, power, and cement; and value added businesses such as Fenestra Building Systems, which manufactures UPVC windows and doors.

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