DCM Shriram Signs Deal With Serentica Renewables For 58 MW Hybrid Green Power Supply

DCM Shriram Limited has signed a definitive agreement with Serentica Renewables India 38 Private Limited to secure 58 MW peak hybrid renewable energy for its chemical manufacturing facility at Bharuch, Gujarat. The agreement, announced on July 17, 2026, represents another step in the company’s strategy to increase the use of clean energy while reducing long-term power costs and improving sustainability across its operations.

As part of the transaction, DCM Shriram will invest up to Rs 104.4 crore, out of an approved investment of up to Rs 105 crore, through one or more cash tranches. In return, the company will acquire a 26 percent equity stake in Serentica Renewables India 38 Private Limited. This investment allows DCM Shriram to meet the group captive generation requirements under the Electricity Act, enabling it to receive around 36 MW of round-the-clock renewable power for its manufacturing operations.

The renewable energy will be supplied from Serentica’s 190 MW hybrid power project, which combines solar generation in Rajasthan with wind power from Karnataka. The project is expected to be commissioned by June 30, 2027. Once operational, it will increase DCM Shriram’s total peak renewable energy capacity to 176 MW across its major manufacturing facilities in Bharuch, Gujarat, and Kota, Rajasthan.

The company expects the project to reduce its annual carbon dioxide emissions by nearly 0.4 million tonnes, supporting its environmental commitments and long-term decarbonization strategy.

Sabaleel Nandy, Executive Director and CEO of DCM Shriram Chemicals, said that energy is one of the largest input costs for the company’s chemical business. He noted that the long-term renewable power arrangement will provide greater cost predictability, reduce exposure to fluctuations in conventional energy prices, and strengthen the company’s sustainability initiatives.

Akshay Hiranandani, CEO of Serentica Renewables, said the partnership reflects the growing demand for clean energy solutions among energy-intensive industries. He added that the project supports industrial decarbonization while reinforcing Serentica’s mission to deliver reliable renewable power across India with the support of its investor, KKR.