Shree Cement invests Rs. 1050 cr in renewable energy plants
RE100, led by Climate Group, with over 400 members unites businesses committed to 100% renewable electricity
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New Delhi: Shree Cement has joined the RE100 initiative, committing to transition all operations to 100% renewable electricity by 2050.
The move follows significant investments in solar and wind power plants, totalling over Rs. 1050 crores, with plans to invest an additional Rs. 700 crores in installing 148 MW plants across five states in the fiscal year 2025.
Neeraj Akhoury, Managing Director of Shree Cement Ltd, emphasized the company's dedication to sustainability and setting a benchmark within the cement sector. He said on the milestone, "Joining the RE100 initiative is a significant step in our journey towards becoming a modern and green building material company. We are committed to transitioning our operations to 100% renewable electricity consumption and accelerating investments in renewable electricity infrastructure. Our aim is to set a benchmark for sustainability within the cement sector and inspire positive change throughout the industry.”
Atul Mudaliar, Director of Systems Change-India at Climate Group, commended Shree Cement for its efforts. “Shree Cement’s commitment to use 100% renewable electricity by 2050 is commendable. Their plans as part of our RE100 initiative show that businesses in cement and other hard-to-abate sectors can transition their operations to become more sustainable if they set their sights on this goal. This is the outlook the world needs from businesses to tackle climate change head-on.”
Shree Cement's strategy includes collaboration with stakeholders, local communities, and government agencies to promote renewable electricity solutions, with transparent monitoring and reporting of progress.
Established as one of India's leading cement groups, Shree Cement Limited is recognized for its commitment to sustainability.
RE100, led by Climate Group, unites businesses committed to 100% renewable electricity, with over 400 members representing diverse sectors and a collective revenue exceeding US$6.6 trillion.
