Ahmedabad (Gujarat) [India], December 18 : Ambuja Cements, which is under the larger Adani Group, has committed an investment of Rs 6,000 crores in renewable power projects, targeting a capacity of 1,000 megawatts.
These investments will encompass a diverse portfolio of solar and wind power projects strategically positioned across Gujarat and Rajasthan, the company said in a release on Monday.
The lineup includes a 600 MW solar power project and 150 MW wind power project in Gujarat and a 250 MW solar power project in Rajasthan.
This will be achieved by financial year 2026 (200 MW by March 2024) in addition to the existing 84 MW of solar and wind power, the release added.
"The investment not only demonstrates our commitment to environmental sustainability but also promises compelling economic advantages to Ambuja's planned larger capacity of 140 million tonnes per annum," the cement maker said.
Ambuja Cements is also enhancing its Waste Heat Recovery Systems (WHRS) capacity from the current 103 MW to 397 MW over the period of 5 years (134 MW by March 2024), which will further reduce the power cost.
"This strategic investment reaffirms our steadfast commitment to sustainable practices. We are not just aiming for a substantial increase in green power capacity but setting the stage for a transformative shift in the cement industry. They align not only with our growth trajectory but also with the national objective of de-carbonization and greener future and this helps us become competitive and sustainable," said Ajay Kapur, CEO, of Cement Business.
"The adjacencies within the Group will further catalyze benefit realization. With all requisite approvals in place, we are on an accelerated path to not just meet but exceed our committed ESG (Environmental, Social, and Governance) targets well before our initial timelines."
Ambuja, with its subsidiary ACC and Sanghi Industries, has a capacity of 74.6 million tonnes with eighteen integrated cement manufacturing plants and fourteen cement grinding units across the country.
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