Ambuja Cement, a subsidiary of the Adani Group, an Indian conglomerate, has announced a plan to add 1GW of solar and wind generation capacity to power cement production.
The company will invest INR60 billion (US$72 million) in solar and wind projects in two Indian states. The line-up of renewables includes a 600MW solar PV project and a 150MW wind project in Gujarat, as well as a 250MW solar PV project in Rajasthan.
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Ambuja Cement said the addition of solar and wind generation capacity will be achieved by the 2026 financial year, while the company reach 200MW of renewable capacity by March 2024.
Ajay Kapur, the Adani Group’s cement business CEO, said that adding renewables not only “aligns with the growth trajectory, but also with the national objective of decarbonisation”.
In addition to this, the group’s renewables developing arm Adani Green Energy closed a US$1.36 billion debt facility to support the development and construction of its large-scale projects in early December.
The financing will support the construction of its planned renewables capacity additions at the Khavda renewable park in the state of Gujarat. Its initial plan is for 2.2GW of capacity additions at Khavda, with further expansion expected in the future. The company has plans to install 45GW of renewable generation capacity by 2030.