Shree Cement Reaches 1 GW Installed Power Capacity, Shifts Focus to Green Generation

Shree Cement, India's third-largest cement manufacturer, achieved a significant milestone on Monday with the commissioning of a 19.5 MW solar power plant at its unit in Andhra Pradesh, pushing its total installed power capacity to 1,000 MW. The company, promoted by the Bangur family, highlighted that this milestone includes a diversified mix of solar, wind, thermal, and waste heat recovery power plants, underscoring its commitment to sustainable energy solutions.

In a statement, Shree Cement disclosed a total investment of Rs 4,000 crore to bolster its renewable energy portfolio, which now constitutes nearly half of its overall installed power capacity.

"Looking ahead, an estimated capex of Rs 1,000 crore is planned for FY25 to further enhance our renewable energy capacity," the company stated.

This upcoming investment includes the installation of 132 MW of solar capacity across Jharkhand, Haryana, Rajasthan, Uttar Pradesh, and Uttarakhand, alongside 36 MW of wind power generation in Rajasthan, and an additional 34 MW of waste heat recovery capacity in Karnataka and Rajasthan.

Neeraj Akhoury, Managing Director of Shree Cement, emphasized the strategic importance of achieving such a robust power capacity portfolio. "This ensures that we not only have ample electricity to support our current cement production but also our expansion projects. Surplus power generated will be contributed to states and the central grid," he noted.

Currently operating at an installed capacity of 56.4 million tonnes per annum (MTPA), Shree Cement aims to ramp up its production capacity to 80 MTPA by 2028, solidifying its position in the cement manufacturing sector while advancing its green energy initiatives.

ET