DCM Shriram and ReNew Power sign pact to set up 50 MW hybrid wind/solar projects in Gujarat

Bhavnagar / Bharuch : DCM Shriram Ltd and ReNew Power have signed an agreement to set up 50 MW hybrid wind/solar projects for its Manufacturing facility in Bharuch, Gujarat

DCM Shriram Ltd today announced signing of two Captive Power Agreements (CPAs) that will see 50 MW of renewable energy supplied from ReNew’s two upcoming projects in Bhavnagar, Gujarat, to DCM Shriram’s Chlor-Alkali manufacturing facility in Bharuch district, Gujarat. ReNew will be setting up the two hybrid projects with a total investment of ~ ₹8 billion through an equity partnership of ~ ₹630 million by DCM Shriram Ltd.

The 50-MW hybrid project, which, overall, has ~100 MW of wind and solar generation capacity at its backend, is expected to generate ~250 million units of renewable energy every year exclusively for the DCM Shriram’s Bharuch facility.

Ajay S. Shriram, Chairman and Sr. Managing Director, DCM Shriram Ltd., said, “We as a group are committed to improving our energy footprint and this is a step in that direction. We are happy to collaborate with ReNew Power in our journey towards renewable energy for our Chlor-Alkali manufacturing facility at Bharuch, Gujarat.”

He added, “With a long-term commitment towards ESG, the Captive Power Agreements for green energy have been signed for 25 years and will mitigate ~2,25,000 tCO2e (carbon emissions) annually.”

DeshGujarat