In a strategic partnership, Sami-Sabinsa Group Limited, a global health science company, has inked an agreement with O2 Renewable Energy VIII Private Limited to establish a 240 MW renewable energy capacity. This endeavor, comprising 100 MW wind and 140 MW AC solar power, aims to drive sustainable energy generation for Sami-Sabinsa’s manufacturing facilities through non-conventional sources on a long-term power supply basis.
As part of the agreement, Sami-Sabinsa Group and its subsidiaries will collectively hold 17% equity, enabling the utilization of 8.30 MWDC solar energy. A substantial step forward, Sami-Sabinsa Group recently injected Rs. 3.30 crore as equity capital into this joint venture.
The renewable energy project, located in Kotturu and Kudligi Talukas of Karnataka’s Bellary District, is underway and anticipated to conclude by January 2024. This initiative aims to power Sami-Sabinsa’s manufacturing facilities in Karnataka, aligning with its sustainability objectives.
Dr. Muhammed Majeed, Founder and Group Chairman of Sami-Sabinsa Group, highlighted the company’s commitment to sustainability. He emphasized the focus on reducing the carbon footprint, fostering environmental conservation, waste minimization, and enhancing resource efficiency and sustainability of bioresources.
Dr. Vijaya Kumar S., CEO of Sami-Sabinsa Group Limited, reaffirmed the company’s dedication to sustainable practices across its operations. Over the next 25 years, the company plans to procure 300 MU of solar power to fuel its seven production facilities in Karnataka, reinforcing its sustainable energy adoption.
O2 Renewable Energy VIII Pvt. Ltd., a subsidiary of O2 Energy SG PTE Limited, Singapore, stands as a significant player in renewable energy platforms. The company has successfully commissioned several solar projects for prominent business conglomerates in India, furthering the nation’s renewable energy goals.
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