Shree Cement Achieves 1 GW Milestone in Renewable Power Capacity, Setting New Sustainability Benchmarks in Cement Industry

Shree Cement Ltd, India’s third-largest cement manufacturer by capacity, has reached a significant milestone with the installation of 1 GW (1,000 MW) of power capacity. This achievement was highlighted by the inauguration of a 19.5 MW solar power plant at its facility in Andhra Pradesh.

The diversified portfolio includes solar, wind, thermal, and waste heat recovery power plants, underscoring Shree Cement’s commitment to sustainable energy solutions for cement production. Investments totaling Rs 4000 crore have bolstered the renewable portfolio, now constituting nearly 50% of the installed power capacity at 499 MW. Notably, Shree Cement leads globally with its 244 MW capacity from waste heat recovery.

Looking forward, the company plans a capital expenditure of Rs 1000 crore in FY25 to expand renewable energy capacity. This includes 132 MW of solar capacity across five states, 36 MW of wind generation in Rajasthan, and 34 MW of waste heat recovery in Karnataka and Rajasthan.

Mr. Neeraj Akhoury, Managing Director of Shree Cement, expressed confidence in the milestone’s impact, stating, “Achieving this power capacity ensures abundant electricity not only for our current operations but also for future expansions. Surplus power will be supplied to state and central grids.”

Emphasizing sustainability, Mr. Akhoury added, “Integration of green electricity has made our cement production more sustainable and cost-effective. Today, nearly 56% of our power needs are met through renewable resources, setting a benchmark in the Indian cement industry.”

Shree Cement recently joined the RE100 initiative, committing to 100% renewable electricity by 2050. With sustainability driving its growth strategy, the company pioneers innovative technologies to reduce reliance on non-renewable sources and emissions. Plans include exploring advanced techniques like battery storage, pump storage, and green hydrogen.

Shree Cement aims to expand its capacity from 56.4 million tonnes per annum (MTPA) to 80 million tonnes by 2028, positioning itself as a leading green building materials company.