Ambuja Commits ₹6,000 cr to Green Power Projects
Ambuja Cements, a company under the Adani Group, has pledged an investment of Rs 6,000 crore in green energy initiatives, aiming to generate 1000 MW of power by the fiscal year 2026.
This substantial investment encompasses a diversified range of solar and wind power projects strategically located in Gujarat and Rajasthan.
The newly proposed projects include a 600 MW solar power venture, a 150 MW wind power initiative in Gujarat, and a 250 MW solar power project in Rajasthan. Notably, 200 MW of this planned capacity increase is slated for completion by the upcoming March, in addition to the existing 84 MW from solar and wind sources.
This investment not only underscores Ambuja's dedication to environmental sustainability but also holds the promise of significant economic benefits for the company's planned expanded capacity of 140 MPTA.
The company asserts that the strategic investment will lead to a noteworthy reduction in power costs, dropping from Rs 6.46 per kWh to Rs 5.16 per kWh, marking a substantial 20 per cent decrease or Rs 90 per tonne of cement for the targeted capacity of 140 MTPA by the fiscal year 2028.
Furthermore, the adoption of green power is expected to facilitate the increased production of eco-friendly cement, offering the infrastructure and housing sectors an opportunity to embrace sustainable practices.
Ambuja Cements is also scaling up its Waste Heat Recovery Systems capacity from the current 103 MW to 397 MW within a five-year timeframe, with 134 MW expected to be achieved by March 2024. This expansion is anticipated to further curtail power costs.
These strategic initiatives position Ambuja to claim a significant share of green power among its industry counterparts, aiming to achieve 60 per cent for the planned capacity of 140 MTPA, a substantial increase from the current 19 per cent.
Ajay Kapur, the CEO of Cement Business, emphasised that the company's ambitions extend beyond mere capacity expansion, signalling a transformative shift in the cement industry. With all necessary approvals secured, Ambuja is poised to surpass its committed Environmental, Social, and Governance (ESG) targets ahead of schedule, according to Kapur.
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Source: Business Line