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DCM Shriram Ltd has signed an agreement with Serentica Renewables India Pvt Ltd to develop a 58 MW (peak) hybrid renewable energy project for its manufacturing operations in Bharuch, Gujarat. As part of the deal, the company will invest up to INR 105 crore to acquire a minimum 26% equity stake in Serentica Renewables India. The project is scheduled for commissioning by June 2027 and will increase DCM Shriram's total renewable energy capacity to 176 MW (peak) across its Bharuch and Kota facilities, supporting its transition towards cleaner energy.
DCM Shriram Ltd has signed a definitive agreement with Serentica Renewables India Pvt Ltd for the development of a 58 MW (peak) hybrid renewable energy power project to meet the power requirements of its energy-intensive manufacturing operations in Bharuch, Gujarat.
The company informed stock exchanges in the past week that it will invest up to INR 105 crore in one or more tranches to acquire a minimum 26% equity stake in Serentica Renewables India Pvt Ltd as part of the agreement.
The hybrid renewable energy project is expected to be commissioned by June 2027. Once operational, DCM Shriram's total renewable energy capacity will increase to 176 MW (peak) across its manufacturing locations in Bharuch, Gujarat, and Kota, Rajasthan.
The investment forms part of the company's efforts to secure long-term renewable power for its industrial operations while reducing dependence on conventional energy sources. Many large industrial companies have increasingly adopted captive and group captive renewable energy projects to manage power costs and meet sustainability commitments.
According to the regulatory filing, Serentica Renewables India Pvt Ltd was incorporated earlier this year and is engaged in the generation, transmission and distribution of electricity using non-conventional energy sources. The company has been expanding its renewable energy portfolio to supply clean power to commercial and industrial consumers across India.
DCM Shriram has been steadily increasing the share of renewable energy in its operations as part of its broader sustainability strategy. The company operates businesses across chlor-vinyl chemicals, agri-rural products and value-added businesses, including Fenesta Building Systems, a manufacturer of uPVC windows and doors.
Source PTI
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