Shree Cement’s installed power capacity tops 1 GW; To further sharpen focus on green generation – EQ

• Current energy mix includes solar, wind, thermal and waste heat recovery

• Renewable energy portfolio nearly 50%

• Plans to invest Rs 1000 crore in FY25 to install an additional 202 MW of renewable energy capacity

Shree Cement Ltd, India’s third largest cement manufacturer by capacity, is proud to announce that it has achieved a significant milestone of one GW (1,000 MW) of installed power capacity. This accomplishment was marked by the commissioning of a 19.5 MW solar power plant at its manufacturing unit in Andhra Pradesh.

The 1 GW capacity includes a mix of solar, wind, thermal and waste heat recovery power plants, showcasing Shree Cement’s diversified approach to meeting the electricity demand for cement production.

Significant investments totaling Rs 4000 crore have been made to expand the renewable portfolio, which now accounts for nearly 50% of the installed power capacity at 499 MW. Notably, Shree Cement’s 244 MW capacity from waste heat recovery is one of the highest in the global cement industry.

Commenting on this milestone, Mr. Neeraj Akhoury, Managing Director, Shree Cement said, “Achieving a power capacity portfolio of this size ensures that we have abundant electricity to not just power our existing cement production but also our expansion projects. We will contribute the surplus power to states and central grid.”

“Significant integration of green electricity has helped us produce cement in a more sustainable and cost-effective manner. Today nearly 56% of our power requirement is met from renewable resources which is the highest in the Indian cement industry. Our aim is to set a benchmark for sustainability within the cement sector and inspire positive change throughout the industry,” Mr Akhoury added.

Recently, Shree Cement announced its membership in the RE100 initiative, committing to harness 100 percent renewable electricity for its entire operations by 2050. With sustainability as the cornerstone of the company’s growth strategy, Shree Cement has been a pioneer in adopting innovative technologies to minimize the consumption of non-renewable sources and reduce emissions. The company is also exploring advanced techniques to enhance renewable electricity usage, such as battery storage, pump storage, and green hydrogen.

Shree Cement is firmly on track to becoming a modern and green building materials company, aiming to increase its current capacity from 56.4 MTPA to 80 million tonnes by 2028.

About Shree Cement Limited

One of the leading cement groups in India, Shree Cement Limited (‘SCL’) (BSE: 500387/ NSE: SHREECEM) is known for its industry leading green credentials, cutting edge innovative practices and cost leadership. It follows ‘highest standards of Corporate Governance and has a long history of enjoying stakeholders’ trust. Shree Cement is known for its high-quality products which are manufactured at advance manufacturing facilities across India and UAE. It is determined to deliver the most sustainable building material solutions to its consumers. The company is relentlessly pursuing its goal of having more than 80 million tonnes of production capacity in the coming years.