Emcure Pharma, signs deal with Sunsure Energy for solar power purchase
Through this partnership, Emcure and Gennova will receive approximately 36 million units of clean, renewable energy annually for their Pune plants. The partnership will significantly advance their sustainability initiatives by meeting around 67 per cent of their power requirements for these plants with green power
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Hyderabad: Emcure Pharmaceuticals Ltd., a leading Indian pharmaceutical company with a differentiated product portfolio, together with its subsidiary Gennova Biopharmaceuticals Limited has signed a 22.78 MWp DC Solar Power Purchase Agreement (PPA) with Sunsure Energy, one of India's leading renewable power producers.
Through this partnership, Emcure and Gennova will receive approximately 36 million units of clean, renewable energy annually for their Pune plants. The partnership will significantly advance their sustainability initiatives by meeting around 67 per cent of their power requirements for these plants with green power and offsetting 29,765.71 metric tons of CO2e annually. This agreement represents a substantial step forward in Emcure’s commitment to sustainability.
Shareholding agreement
Pursuant to the PPA, Emcure and Gennova have signed a Shareholders Agreement to acquire stake in Sunsure Solarpark Twelve Private Limited, for the purchase of solar power under a group captive scheme as per the Electricity Act, 2023 and applicable rules thereunder.
With a strong presence in over 70 countries, Emcure Pharmaceuticals has been a trusted name in the pharmaceutical industry, consistently focussing on improving lives through innovative and quality pharmaceutical solutions. Sunsure will be supplying this power from its 150 MWp DC solar plant in Solapur, Maharashtra. This new agreement will further strengthen Emcure’s commitment to integrating sustainability across operations in its plants to minimise environmental impact.
Commenting on the PPA agreement, Sunil Mehta, Whole-time Director of Emcure Pharmaceuticals Ltd., said: "At Emcure, we are dedicated not only to improving lives through innovation and research for our differentiated portfolio but also through efficient and environment-friendly manufacturing processes. Our partnership with Sunsure Energy is a testament to promoting innovative solutions in the pharmaceutical industry to reduce the industry’s carbon footprint by embracing the power of renewable energy. Emcure is proud to be leading the adoption of solar power in the pharmaceutical industry in India. We look forward to continuing our collaboration with Sunsure Energy to achieve new milestones in our green energy journey."
Shashank Sharma, Founder and CEO of Sunsure Energy, said: "We are thrilled to onboard Emcure Pharmaceuticals, to our esteemed family of customers. This PPA demonstrates Sunsure’s dedication to facilitating the renewable energy transition for leading corporations in the pharmaceutical sector. By working together, we are not only powering Emcure's facilities with clean energy but also driving broader environmental stewardship within the industry."
