DCM Shriram Limited has entered into a definitive agreement with Serentica Renewables India Pvt. Ltd. for the development of a 58 MW hybrid renewable energy power project, primarily for its energy-intensive business in Bharuch, Gujarat. Upon completion, DCM Shriram Chemicals’ total renewable energy capacity will rise from 118.4 MW to 176.4 MW, significantly expanding its clean energy base. The project is expected to be commissioned by June 2027. Under the agreement, DCM Shriram Chemicals will invest up to Rs. 105 crores in one or more tranches to acquire a minimum 26% equity stake in Serentica Renewables India Pvt. Ltd.
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 chlor-alkali operations in Bharuch. Power is one of the most significant cost inputs for this business, and securing 58 MW of reliable, round-the-clock renewable energy will help improve cost efficiency, provide greater visibility into long-term power costs and reduce exposure to fluctuations in conventional energy prices. It will also strengthen operational resilience and support our broader growth and sustainability commitments by creating a cleaner and more competitive energy base for the business.”
“Sustainability and carbon reduction are also integral to how we operate at DCM Shriram Chemicals. The project is expected to help avoid nearly 0.4 million tonnes of CO₂ emissions annually while increasing the share of renewable power available to our Bharuch operations. It will support our efforts to lower the carbon intensity of the business and pursue growth more responsibly and sustainably,” added Mr. Nandy.
Commenting on the partnership, Mr. 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 of round-the-clock renewable power to DCM Shriram Chemicals Bharuch plant, enabling reliable and sustainable energy for its operations.’’
The agreement strengthens DCM Shriram Chemicals renewable energy portfolio while supporting the long-term energy requirements of its Bharuch operations. Once commissioned, the project is expected to contribute meaningfully to the company’s efforts to improve energy efficiency, reduce emissions and build a more resilient and sustainable manufacturing base.
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