Indian billionaire's company earmarks $723m for renewables in 'green cement' push
Ambuja says gigascale wind and solar investment will help it cut power costs and ramp up supply of more environmentally benign product
A cement company owned by Indian billionaire Gautam Adani has said it will invest $723m to build wind and solar farms to power over half its operations with green energy.
Ambuja Cements announced today (Monday) that it will build 1GW of green projects to meet 60% of its operations through renewables.
The projects include a 600MW solar farm and 150MW wind project in the state of Gujarat and a 250MW solar farm in the state of Rajasthan.
Ambuja said the projects will be finished by the 2026 financial year, although 200MW of capacity is expected as soon as March.
Ambuja is part of the Adani Group business empire led by Gautam Adani. The Indian business magnate is one of the world’s leading green energy billionaires, with huge investments in wind, solar and green hydrogen projects.
Ambuja said its planned wind and solar projects not only demonstrate its “commitment to environmental sustainability,” but also promise “compelling economic advantages” as they will help cut the cost of electricity.
The renewable power will also allow it to increase its supply of “green cement,” making it possible for its customers in infrastructure and housing to go green.
Ambuja also said it is enhancing its waste heat recovery systems capacity from 103MW to 397MW in the next five years to cut power costs.
“This strategic investment reaffirms our steadfast commitment to sustainable practices,” said Ambuja CEO Ajay Kapur.
“We are not just aiming for a substantial increase in green power capacity but setting the stage for a transformative shift in the cement industry.”
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