DCM Shriram Chemicals Signs Pact with Serentica Renewables for 58 MW Hybrid Renewable Energy Project in Gujarat

DCM Shriram Limited has signed a definitive agreement with Serentica Renewables India Pvt. Ltd. to develop a 58 MW hybrid renewable energy project to supply round-the-clock (RTC) clean power to its energy-intensive chlor-alkali operations in Bharuch, Gujarat.

The project, scheduled for commissioning by June 2027, will increase DCM Shriram Chemicals’ total renewable energy capacity from 118.4 MW to 176.4 MW, strengthening the company’s renewable energy portfolio and supporting its long-term decarbonization strategy.

As part of the agreement, DCM Shriram Chemicals will invest up to Rs. 105 crore, in one or more tranches, to acquire a minimum 26% equity stake in Serentica Renewables India Pvt. Ltd.

According to the companies, the renewable energy project will be developed through a 190 MW solar and wind portfolio, with solar power sourced from Rajasthan and wind power from Karnataka. The combined assets will supply 58 MW of round-the-clock renewable power to DCM Shriram Chemicals’ Bharuch manufacturing facility.

Commenting on the agreement, Sabaleel Nandy, Executive Director & CEO, DCM Shriram Chemicals, said the project is a strategic step toward increasing the share of renewable energy across the company’s chlor-alkali operations. He noted that electricity is one of the largest cost components for the business and that securing reliable round-the-clock renewable power would improve cost efficiency, provide greater visibility into long-term power costs, reduce exposure to fluctuations in conventional energy prices, and enhance operational resilience.

Nandy added that the project aligns with the company’s sustainability objectives and is expected to help avoid nearly 0.4 million tonnes of CO₂ emissions annually, while increasing the share of renewable energy consumed at the Bharuch facility. He said the initiative would support efforts to lower the carbon intensity of operations and enable more sustainable business growth.

Akshay Hiranandani, CEO, Serentica Renewables, said the partnership represents another milestone in advancing the decarbonization of India’s industrial sector. He stated that the 190 MW renewable energy project, combining solar generation from Rajasthan and wind generation from Karnataka, will provide reliable round-the-clock renewable power to DCM Shriram Chemicals’ Bharuch plant, supporting sustainable industrial operations.

Once operational, the project is expected to strengthen DCM Shriram Chemicals’ renewable energy capacity while improving energy efficiency, reducing greenhouse gas emissions, and supporting the development of a more resilient and sustainable manufacturing base.