DCM Shriram has deepened its clean energy push with a definitive agreement with Serentica Renewables India 38 Pvt. Ltd. to develop a 58 MW (peak) hybrid renewable energy project that will power its energy-intensive chemicals business in Bharuch, Gujarat.

 

As part of the agreement, DCM Shriram will invest up to Rs. 105 crore, in one or more tranches, to acquire a minimum 26% equity stake in Serentica Renewables India 38 Pvt. Ltd. The project is scheduled to be commissioned by June 2027.

 

Once operational, the project will increase DCM Shriram's total renewable energy capacity to 176 MW (peak) across its Bharuch and Kota manufacturing sites, significantly strengthening the company's renewable energy portfolio and accelerating its transition toward lower-carbon manufacturing.

 

The renewable power will be supplied from Serentica's 190 MW renewable energy project, comprising solar generation in Rajasthan and wind generation in Karnataka, with 58 MW dedicated to DCM Shriram Chemicals' Bharuch facility.

 

Commenting on the development, Mr. Sabaleel Nandy, Executive Director & CEO, DCM Shriram Chemicals, said, “The agreement is a strategic step in expanding the share of renewable energy across our chemical operations in Bharuch and our ongoing efforts towards making the business more sustainable. 

 

"The project is expected to help avoid nearly 0.4 million tonnes of CO₂ emissions annually while increasing the share of renewable power. Further given, that power is one of the most significant input costs, this will help improve cost efficiency, provide greater visibility into long-term power costs and reduce exposure to fluctuations in conventional energy prices.”

 

The company expects the project to help avoid nearly 0.4 million tonnes of CO₂ emissions annually while improving energy efficiency, enhancing cost predictability and reducing exposure to conventional energy price volatility.

 

Commenting on the partnership, Akshay Hiranandani, CEO, Serentica Renewables, said, “Our partnership with DCM Shriram Chemicals marks another significant step in advancing India’s industrial decarbonization journey. 

 

"Through a 190 MW renewable energy project comprising solar power from Rajasthan and wind power from Karnataka, we will supply 58 MW renewable power to DCM Shriram Chemicals Bharuch plant, enabling reliable and sustainable energy for its operations.’’

 

The agreement underscores the growing momentum among Indian industrial companies to secure long-term renewable energy through strategic partnerships while advancing decarbonization goals. 

 

For DCM Shriram, the project is expected to strengthen the resilience and sustainability of its Bharuch operations while supporting the company's long-term energy requirements.