Shree Cement, one of India’s leading cement producers, has taken a significant step towards sustainable operations by joining the esteemed RE100 initiative. The initiative, led by Climate Group, advocates for businesses to transition to 100% renewable electricity for all their operations. Shree Cement’s commitment underscores its dedication to accelerating the global transition to renewable energy consumption among influential businesses.
Neeraj Akhoury, Managing Director of Shree Cement Ltd, expressed his enthusiasm about this milestone, stating, “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.”
Atul Mudaliar, Director of Systems Change-India at Climate Group, commended Shree Cement’s commitment, saying, “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.”
Aligned with national goals, Shree Cement is dedicated to reducing thermal power consumption and increasing renewable electricity usage. The company has made significant investments to expand its solar and wind electricity portfolio. Currently, it has 236 MW solar and wind power plants installed across India, with a capital expenditure exceeding ₹1,050 Crores. Additionally, 112 MW solar power plants are under installation in five states, while 36 MW wind power plants are under planning in Rajasthan. The total estimated capital expenditure towards these solar and wind power plants is over ₹700 crores.
Neeraj Akhoury emphasised, “With sustainability as the cornerstone of our growth strategy, we have been pioneers in adopting innovative technologies to minimise consumption of non-renewable sources and reduce emissions. We are also exploring innovative techniques to enhance renewable electricity usage such as battery storage, pump storage, green hydrogen, among others.”
