Adani Group cement maker to invest in 1 GW of wind, solar

Indian cement maker Ambuja Cements plans to pour INR 60 billion (USD 723m/EUR 662m) into the installation of 1 GW of renewable power plants in a move to decarbonise its production and achieve a 20% reduction in power costs.

The Mumbai-based cement and building materials unit of conglomerate Adani Group said on Monday it seeks to deploy solar and wind power capacity across the state of Gujarat and Rajasthan. Specifically, the plan envisages the construction of a 600-MW solar park and a 150-MW wind farm in Gujarat, and a 250-MW solar plant in Rajasthan.

Ambuja Cements intends to commission the capacity by fiscal 2026. According to its estimates, the green generation will help it lower the cost of power used for its production from INR 6.46/kWh to INR 5.16/kWh, equal to a 20% reduction.

"This strategic investment reaffirms our steadfast commitment to sustainable practices. 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,” said Ajay Kapur, CEO Cement Business.

Ambuja Cements already has 84 MW of solar and wind power plants in operation. It aims to start using green energy to cover 60% of its 140 million tonnes of planned production a year, up from the current 19%. Its latest announcement comes days after its parent committed to investing USD 100 billion (EUR 91.5bn) in green energy transition initiatives over 10 years to advance its goal of reaching net zero by 2050 or earlier for five of its portfolio companies.

(INR 10 = USD 0.120/EUR 0.110)

(USD 1.0 = EUR 0.915)

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