DCM Shriram will source 50 MW renewable energy from ReNew Power
POWER & RENEWABLE ENERGY

DCM Shriram will source 50 MW renewable energy from ReNew Power

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.

See also:
Inox Wind bags 200-MW order from NTPC subsidiary
JV set up for renewable energy power plant for refineries


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. See also: Inox Wind bags 200-MW order from NTPC subsidiaryJV set up for renewable energy power plant for refineries

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?