The cement manufacturer added that the balance 806 MW capacity from this project is at various stages of commissioning and expected to start transmitting in phases between March 2025 and June 2025. Positively impacting the the company’s EBITDA, this development leads to an impressive 70% savings compared to current power cost.
The firm has received standing clearance for its 200 MW solar power project from the Western Regional Load Dispatch Centre (WRLDC), effective 12 December 2024. This first phase of its ambitious Green Energy Project, paves the way for further value unlocking for the company’s Rs 10,000 crore investment towards green power - 1 GW of renewable energy, including solar and wind, along with 376 MW of Waste Heat Recovery Systems (WHRS).
Of the remaining 806 MW capacity from this project, 156 MW of wind power from Khavda and a further 300 MW solar power from Rajasthan are expected to be comissioned by March 2025 in phases. The balance 350 MW Solar power is expected to be commissioned by June 2025.
Ajay Kapur, CEO – Cement Business, Adani Group said, “Growing responsibly and sustainably is fundamental to our ESG excellence journey as we are proudly committed to achieving net zero emissions by 2050. This is the first phase of our 1 GW renewable power project in our efforts to decarbonize the value chain. We aim to power 60% of our total energy consumption from green power sources by FY28. This helps us in reducing our overall cost and delivering strong value to our stakeholders. Our sustainability principles are integrated into all aspects of our business and reflect our forward-thinking vision.”
Ambuja Cements is a major cement producing company in India. The principal activity of the company is to manufacture and market cement and clinker for both domestic and export markets.
The cement major’s consolidated net profit slipped 52.1% to Rs 472.89 crore in Q2 FY25 as against Rs 987.24 crore recorded in Q2 FY24. However, revenue from operations rose 1.24% YoY to Rs 7,516.11 crore in the quarter ended 30 September 2024.
The scrip declined 0.60% to currently trade at Rs 568.55 on the BSE.