DCM Shriram to expand renewable energy capacity to 176 MW with new hybrid power project
New Delhi, July 18
DCM Shriram Ltd. will increase its renewable energy capacity to 176 MW across its Bharuch and Kota facilities after signing a definitive agreement with Serentica Renewables India 38 Pvt. Ltd. to develop a 58 MW hybrid renewable energy project for its Bharuch operations in Gujarat.
According to a press release, the project, which is expected to be commissioned by June 2027, is aimed at supporting the company's energy-intensive chemical operations while expanding the share of renewable energy in its power mix.
As part of the agreement, DCM Shriram will invest up to Rs 105 crore, in one or more tranches, to acquire a minimum 26 per cent equity stake in Serentica Renewables India 38 Pvt. Ltd.
Commenting on the development, Sabaleel Nandy, Executive Director and CEO, DCM Shriram Chemicals, said, "The agreement is a strategic step in expanding the share of renewable energy across our chemical operations in Bharuch and our ongoing efforts towards making the business more sustainable."
He added that the project is expected to help avoid nearly 0.4 million tonnes of CO₂ emissions annually while improving cost efficiency by increasing the use of renewable power. According to the company, the project is also expected to provide greater visibility into long-term power costs and reduce exposure to fluctuations in conventional energy prices.
Under the partnership, Serentica Renewables will supply 58 MW of renewable power to DCM Shriram Chemicals' Bharuch plant through a 190 MW renewable energy project comprising solar power from Rajasthan and wind power from Karnataka, the release said.
The company said the agreement is expected to strengthen its renewable energy portfolio while supporting the long-term energy requirements of its Bharuch operations. Once commissioned, the project is expected to improve energy efficiency, reduce emissions and contribute to building a more resilient and sustainable manufacturing base.
— ANI
Reader Comments
A 105 crore investment for 26% equity stake sounds reasonable. But I wish the commissioning timeline was sooner than 2027—we need faster action on climate change. Still, every step counts, and this hybrid model combining solar and wind is smart. Kudos to the team at Serentica for making this happen!
Finally some good news on the industrial front! Reducing exposure to volatile conventional energy prices is especially crucial for chemical manufacturing. If more companies follow DCM Shriram's lead, we could see a real shift in India's energy landscape. Let's hope this inspires others in the sector. 🇮🇳
Impressive numbers—176 MW total and 58 MW for Bharuch alone. The CO₂ avoidance is equivalent to planting millions of trees. I just hope there's transparency in how they source materials for these renewable projects (like solar panels) to ensure they're truly sustainable from end to end.
As someone working in sustainability, this is really encouraging. DCM Shriram is showing that heavy industries like chemicals can transition to renewables without sacrificing productivity. The hybrid solar-wind model is especially clever for ensuring consistent power supply. Well done!
Good initiative, but I wish they'd also invest in local manufacturing of renewable equipment to reduce import dependence. We have the talent and resources in India to build this ecosystem. Still, every MW counts, and avoiding 0.4 million tonnes of CO₂ is genuinely commendable. Progress, not perfection! 🌱
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