Adani Group-Ambuja Cements plans to invest Rs 6000 crore in renewable energy projects, the company said in a press release on 18 December. Ambuja Cements is the cement and construction materials company of the Adani Group. The company pays for the internal investment. The company did not comment on financial performance.
It plans to acquire 1,000 MW capacities through solar and wind power projects in Gujarat and Rajasthan. He said the list includes a 600 MW solar power project in Gujarat, a 150 MW solar power project and a 250 MW solar power project in Rajasthan.
The company aims to achieve that capacity from solar and wind energy projects by 2026, according to the statement. This will add to the company's 84 MW of capacity.
These projects will raise Ambuja Cements' total green capacity to 60% from the existing 19%.
With the lower cost of generation from green power, the company's power cost will decrease from Rs. 6.46 per kWh to Rs.5.16 per kWh. A reduction of Rs. 1.30 per kWh (20%) which translates into Rs. 90 PMT of cement by FY 2028, the statement said.
It may be noted here that Ambuja Cements, in early December, took a majority stake in Sanghi Industries for Rs 5,185 crore.
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