Maruti Suzuki India to spend USD 54m on renewables in 3 yrs

Automobiles manufacturer Maruti Suzuki India Ltd (BOM:532500), or MSIL, has set aside INR 4.5 billion (USD 54m/EUR 49.5m) to expand the usage of renewable energies in three years, starting with a pilot biogas plant that could be replicated.

The company said on Wednesday that it is commencing a biogas production project at its Manesar facility. It will have the capacity to produce 0.2 tonnes of biogas daily, using food waste from canteens and Napier grass as raw materials. The residual organic manure will be used in horticulture.

“As we ramp up our production capacity from around 2 million to 4 million by 2030-31, we are also accelerating our efforts to increase the share of sustainable and renewable energy sources across our operations. This is in line with Suzuki’s Environment Vision 2050 and Govt of India’s renewable energy focus,” said Hisashi Takeuchi, the company’s managing director and CEO, adding that MSIL plans to rely on multiple renewable energy sources to make its operations greener. He further mentioned that the learning from this pilot project will be implemented at other upcoming manufacturing facilities.

In fiscal 2023/24, MSIL invested INR 1.2 billion to commission renewables such as solar power and biogas. It managed to expand its solar capacity to 43.2 MWp and plans to add a further 15 MWp to its Manesar plant and 20 MWp to the upcoming Kharkhoda plant over the next two years, thereby increasing the total to 78.2 MWp by fiscal 2025/26.

(INR 10 = USD 0.120/EUR 0.110)

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