Shree Cement Wins CII Performance Excellence Award 2024 for Renewable Energy Innovations

Hyderabad: Shree Cement, one of India's leading cement manufacturers, has been honored with the prestigious CII Performance Excellence Award 2024 for its groundbreaking work in renewable energy, particularly in solar, wind, and hybrid power generation. The award was presented at the 23rd edition of the Green Power Conference, the Confederation of Indian Industry’s (CII) flagship event on renewable energy, held recently in Chennai.

The company was recognized for its pioneering renewable energy installations, including a 20 MWp solar plant in Beawar, Rajasthan, a 31.5 MW wind plant in Kushtagi, Karnataka, and a 10.5 MW wind plant in Jath, Maharashtra. These projects are a testament to Shree Cement’s commitment to sustainable energy practices and its leadership in the green energy sector.

Commitment to Sustainability and Innovation

Neeraj Akhoury, Managing Director of Shree Cement, expressed pride in the company’s achievements, stating, “This award underscores our continuous efforts to integrate sustainability into every facet of our operations. At Shree Cement, we view renewable energy not just as a responsibility, but as a critical step toward a sustainable future. These accolades reinforce our commitment to innovation and our role in advancing India’s renewable energy objectives. We are immensely proud of our team and their dedication to delivering tangible, positive impacts on both the environment and the communities we serve.”

Impressive Renewable Energy Portfolio

Shree Cement’s renewable energy initiatives have been a cornerstone of its sustainability strategy. The company’s power portfolio now exceeds 1 GW, with over 517 MW sourced from green energy. In the fiscal year 2023-24, 55.9% of its electricity requirements were met through renewable sources. Notable projects include the 20 MWp solar plant in Beawar and wind plants in Kushtagi (31.5 MWp) and Jath (10.5 MWp), which collectively contribute to a reduction of nearly 98,000 tons of CO2 emissions annually.

These renewable energy installations are critical to powering Shree Cement’s manufacturing units in Beawar, Ras, Kodla, and Patas, further solidifying the company’s leadership in sustainable energy adoption.

Water Conservation and Sustainability Leadership

Shree Cement’s sustainability efforts extend beyond energy. In FY 2023-24, the company achieved a remarkable water positivity ratio of more than 7 times, as verified by an independent agency. This accomplishment was driven by the implementation of water conservation measures, including rainwater harvesting and the installation of Air Cooled Condensers (ACC), which have reduced cooling water consumption by 90%. Additionally, the company uses treated municipal sewage water for industrial processes and greenbelt development.

Looking Ahead

As Shree Cement moves toward its goal of expanding production capacity to 80 million tonnes by 2028, it remains steadfast in its commitment to a greener, more sustainable future. With industry-leading renewable energy practices and innovative environmental initiatives, Shree Cement continues to set benchmarks in the cement industry, reinforcing its role as a key player in India’s green energy transition.

The CII Performance Excellence Awards were presented by distinguished leaders, including Beela Rajesh, IAS, Principal Secretary (Department of Energy, Tamil Nadu), Ramesh Kymal, Chairman of the CII Renewable Energy Council, K S Venkatagiri, Executive Director at CII – Godrej GBC, and Dr. P Jayakumar, Chairman of the CII Performance Excellence Awards.

Shree Cement’s latest recognition underscores its ongoing commitment to both operational excellence and environmental sustainability, setting a high standard for corporate responsibility in the sector.