DCM Shriram Signs Renewable Energy Agreement with Serentica for 58 MW Hybrid Power Supply!

DCM Shriram Limited has signed a definitive agreement with Serentica Renewables India Pvt. Ltd. to source 58 MW peak of hybrid renewable energy for its manufacturing operations in Bharuch, Gujarat. The agreement marks another significant milestone in the company’s sustainability journey, reinforcing its commitment to reducing carbon emissions while securing reliable and cost-effective clean energy for its industrial operations.

The renewable energy project is scheduled to be commissioned by June 2027. Once operational, DCM Shriram’s total renewable energy capacity across its Bharuch and Kota manufacturing facilities will increase to 176 MW peak, substantially expanding the company’s renewable energy portfolio and supporting its long-term environmental and operational objectives.

As part of the transaction, DCM Shriram will invest up to Rs 105 crore in one or more tranches to acquire a minimum 26 percent equity stake in Serentica Renewables India Pvt. Ltd. The investment reflects the company’s strategic approach to securing long-term access to renewable power while strengthening its partnership with one of India’s leading industrial renewable energy providers.

The project has been developed primarily to meet the electricity requirements of DCM Shriram Chemicals’ energy-intensive manufacturing operations in Bharuch. By integrating hybrid renewable energy into its power mix, the company expects to significantly reduce dependence on conventional energy sources while improving long-term cost competitiveness and energy security.

According to the company, the project is expected to prevent approximately 0.4 million tonnes of carbon dioxide emissions annually, contributing substantially to its decarbonisation goals. The increased use of renewable energy will also help improve the overall sustainability of its manufacturing processes while supporting India’s broader transition towards cleaner industrial production.

Commenting on the agreement, Sabaleel Nandy, Executive Director and CEO of DCM Shriram Chemicals, said the partnership aligns with the company’s ongoing efforts to increase renewable energy adoption across its manufacturing operations. He noted that the project will not only contribute to sustainability objectives but also enhance cost efficiency, improve visibility into long-term energy expenses, and reduce exposure to fluctuations in conventional power prices.

Serentica Renewables stated that the agreement forms part of a larger 190 MW hybrid renewable energy project combining solar power generated in Rajasthan with wind power produced in Karnataka. The hybrid configuration enables a more balanced and reliable supply of renewable electricity by leveraging complementary generation profiles from both solar and wind resources.

Under the agreement, Serentica will supply 58 MW of renewable energy to DCM Shriram Chemicals’ Bharuch facility, helping the company meet a significant portion of its power requirements through clean energy sources. The project demonstrates the growing role of hybrid renewable energy solutions in supporting continuous industrial operations while improving overall power reliability.

Akshay Hiranandani, CEO of Serentica Renewables, said the partnership highlights the increasing adoption of renewable energy within energy-intensive industries and reflects a shared commitment to accelerating industrial decarbonisation. He added that collaborations of this nature are essential for enabling manufacturers to achieve their sustainability targets without compromising operational performance.

The agreement further strengthens DCM Shriram’s renewable energy strategy, which focuses on improving energy efficiency, reducing greenhouse gas emissions, and building a more resilient manufacturing ecosystem. As industries across India continue to pursue carbon reduction initiatives, strategic partnerships between manufacturers and renewable energy developers are becoming increasingly important for ensuring access to cleaner, more predictable, and economically competitive power sources.

With this latest investment, DCM Shriram continues to reinforce its commitment to sustainable manufacturing while positioning itself for long-term operational resilience through greater adoption of renewable energy. The project also reflects the broader transformation taking place across India’s industrial sector, where clean energy is becoming a critical driver of competitiveness, cost optimisation, and environmental responsibility.