Ambuja Cement, owned by Adani Group, plans to invest Rs 6,000 crore in renewable power projects in various states to reach a capacity of 1,000 MW. This investment is in line with their goal of becoming a leading global player in sustainable cement production.
The investment plan involves investing in a variety of solar and wind power projects in Gujarat and Rajasthan. Ambuja Cements intends to develop a 600 MW solar power project, a 150 MW wind power project in Gujarat, and a 250 MW solar power project in Rajasthan.
The projects are expected to be completed by fiscal year 2026, with 200 MW of capacity expected to be operational by March 2024. This initiative adds to the company’s current utilization of 84 MW of solar and wind power.
Ambuja Cements plans to add 600 MW of solar power and 150 MW of wind power in Gujarat, as well as 250 MW of solar power in Rajasthan by FY 2026. They also aim to achieve 200 MW by March 2024. This is in addition to their current capacity of 84 MW of solar and wind power.
The company also plans to enhance its Waste Heat Recovery Systems (WRS) capacity from the current 103 MW to 397 MW over five years, further contributing to a reduction in power costs.
With a shift to green power, the cost of generation is expected to decrease from Rs 6.46 per kWh to Rs 5.16 per kWh, resulting in a significant 20 per cent reduction of Rs 1.30 per kWh.
This translates into Rs 90 per metric ton of cement for the targeted capacity of 140 MTPA by FY 2028, aligning with the company’s environmental, social, and governance (ESG) targets.
Reference- Mercom India, Business Standard, Economic Times, Money Control