India's third-largest cement producer, Shree Cement Ltd., announced on Monday that it has reached an installed power capacity of 1,000 MW following the commissioning of a 19.5-MW solar power plant at its Andhra Pradesh facility.
"The one-gigawatt capacity includes a mix of solar, wind, thermal and waste heat recovery power plants, showcasing Shree Cement’s diversified approach to meeting the electricity demand for cement production," the Bangur family-promoted firm said in a statement.
The company has invested Rs 4,000 crore to enhance its renewable energy portfolio, which now represents almost half of its total installed power capacity.
"Looking ahead, an estimated capex of Rs 1,000 crore is planned in FY25 for installation of additional renewable energy capacity," the statement said.
This includes the installation of 132 MW of solar capacity in five states—Jharkhand, Haryana, Rajasthan, Uttar Pradesh and Uttarakhand, 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnataka and Rajasthan.
"Achieving a power capacity portfolio of this size ensures that we have abundant electricity to not just power our existing cement production but also our expansion projects. We will contribute the surplus power to states and central grid," Managing Director Neeraj Akhoury said.
Shree Cement currently possesses an installed capacity of 56.4 million tonne per annum and is targeting an expansion to 80 MTPA by the year 2028.
(With inputs from PTI)
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