en.Wedoany.com Reported - On July 20, Indian company DCM Shriram signed a final agreement with a project company under Serentica Renewables to procure 58MW of renewable power for its chemical operations in Bharuch, Gujarat. The renewable power project will combine solar and wind energy resources to serve the electricity needs of DCM Shriram's chemical complex.

Under the agreement, DCM Shriram will invest up to INR 1.05 billion in phases to acquire no less than 26% equity in Serentica Renewables India 38 Pvt Ltd. The project's power will come from a 190MW wind-solar hybrid project, with the solar component located in Rajasthan and the wind component in Karnataka. The project is scheduled to be operational by June 2027, and upon completion, it will increase DCM Shriram's renewable energy capacity at its Bharuch and Kota sites to 176MWp.

The renewable power project is expected to reduce approximately 400,000 tonnes of CO2 emissions annually and increase the proportion of green electricity used at the Bharuch chemical complex. For chemical companies, securing a stable supply of renewable power is not only related to electricity costs but also to the low-carbon transformation of production processes and customer supply chain requirements. Serentica Renewables currently has approximately 3GW of renewable energy capacity in India, including solar, wind, and energy storage projects. Following this collaboration, the focus will shift to project construction, grid connection, equity investment execution, and long-term power supply arrangements.