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Shree Cement, a prominent player in India’s cement industry with a substantial capacity of over 56 MTPA, has proudly announced its membership in the esteemed RE100 initiative. Led by Climate Group, RE100 advocates for businesses to transition to 100 percent renewable electricity for all their operations. This commitment highlights Shree’s resolve to accelerate the global shift towards renewable energy consumption among influential corporations.
Speaking on this milestone, Mr. Neeraj Akhoury, Managing Director of Shree Cement Ltd, emphasized, “Joining the RE100 initiative marks a significant stride in our journey towards becoming a modern and environmentally conscious building material company. We are dedicated to transitioning our operations to rely entirely on renewable electricity and to expedite investments in renewable energy infrastructure. Our goal is to establish a benchmark for sustainability within the cement sector and inspire positive change throughout the industry.”
Mr. Atul Mudaliar, Director of Systems Change-India at Climate Group, commended Shree Cement’s commitment to using 100% renewable electricity by 2050. He remarked, “Their plans as part of our RE100 initiative demonstrate that businesses in cement and other hard-to-abate sectors can transition their operations to become more sustainable, provided they set their sights on this goal. This is the proactive approach the world needs from businesses to address climate change effectively.”
Aligned with national objectives, Shree Cement is dedicated to reducing thermal power consumption and increasing renewable electricity usage. The company has made significant investments to expand its solar and wind electricity portfolio, with 236 MW solar & wind power plants installed across India at a capital expenditure exceeding Rs. 1050 Crores. Additionally, 112 MW solar power plants are under installation in five states, with 36MW wind power plants under planning in Rajasthan. The estimated capital expenditure towards these solar and wind power plants exceeds Rs. 700 crores.
Mr. Akhoury further stated, “With sustainability at the core of our growth strategy, we have been pioneers in adopting innovative technologies to minimize the consumption of non-renewable sources and reduce emissions. We are also exploring innovative techniques to enhance renewable electricity usage such as battery storage, pump storage, green hydrogen, among others.”
Shree Cement is committed to collaborating closely with stakeholders, local communities, and government agencies to address challenges and promote the widespread adoption of renewable electricity solutions. Moreover, the company pledges to ensure transparent monitoring and reporting of progress towards renewable electricity goals, underscoring Shree’s commitment to accountability and sustainability. |
