New Delhi: UltraTech Cement Ltd on Wednesday announced plans to increase the share of green energy in its total energy mix to 85% by 2030.
In a statement, the company also said as part of a transitional plan, it aims to increase its total green energy share threefold from its current 22% to 60% by FY26.
The Aditya Birla Group company said it would not add any further captive thermal power capacity, in line with its objective to reduce dependence on fossil fuels and increase the use of green energy.
The cement major outlined its plans to explore innovative technologies like carbon capture, utilization, and storage (CCUS) in collaboration with startup technology companies such as CarbonOrO, Coomtech, and Fortera. The company also highlighted its partnership with Coolbrook, a Finland-based transformational technology and engineering company.
Currently, the company has 691 MW of green energy capacity, which includes 262 MW of waste heat recovery systems (WHRS) installed capacity and 429 MW of contracted renewable energy. Cumulatively, this translates to about 22% of UltraTech’s current energy requirements.
Speaking about the development, KC Jhanwar, managing director, UltraTech Cement said: “As the largest cement company in the country, it is our responsibility to lead the way in building a more sustainable and green future for the industry. Green energy is a key enabler of decarbonization. We have been constantly scaling up our green energy mix in our total power requirement over the years, which is a testament to our commitment to a clean and green tomorrow.”
UltraTech also emphasized meeting 100% of its electricity requirement through renewable sources by 2050, as part of its ‘RE100’ commitment. As a member of ‘EP100’, UltraTech is also committed to doubling its energy productivity. The EP100 is a global corporate initiative, led by Climate Group, bringing together over 125 ambitious businesses committed to improving their energy efficiency.
On Wednesday, shares of UltraTech closed at ₹9,739.35 crore on the BSE, lower by 1.26% from its previous close.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
