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June 5, 2024

Maruti Suzuki to Invest Rs 450 Crore in Renewable Energy Initiative

Maruti Suzuki India announced on Wednesday its ambitious plan to invest Rs 450 crore in renewable energy projects over the next three years. This investment aims to bolster the company’s commitment to sustainability by focusing on solar power and biogas initiatives.

In the fiscal year 2024, Maruti Suzuki allocated Rs 120.8 crore to renewable energy ventures. However, beginning FY25, the company plans to significantly increase its investment, committing Rs 450 crore over a three-year period. This initiative aligns with Maruti Suzuki’s broader strategy to enhance its production capacity and integrate more sustainable practices across its operations.

“As we ramp up our production capacity from around 2 million to 4 million by 2030-31, we are also accelerating our efforts to increase the share of sustainable and renewable energy sources across our operations,” stated Hisashi Takeuchi, Maruti Suzuki’s Managing Director and CEO. He emphasized that the company is not only incorporating multiple technologies in its products but is also dedicated to diversifying its renewable energy sources to ensure greener operations.

One of the notable initiatives includes the commencement of a pilot biogas plant at Maruti Suzuki’s Manesar facility in FY25. This plant, which harnesses the potential of in-house food waste, is designed to produce 0.2 tonnes of biogas daily, translating to an anticipated output of about 1 lakh standard cubic meters of biogas in FY25. This initiative is expected to offset approximately 190 tonnes of CO2 annually, significantly contributing to the company’s sustainability goals.

In addition to biogas, Maruti Suzuki is also expanding its solar energy capacity. In FY24, the company increased its solar capacity to 43.2 MW. Looking forward, it plans to add another 15 MW of solar capacity to its Manesar plant and 20 MW to its upcoming Kharkhoda plant over the next two years. These additions will boost the total solar capacity to an impressive 78.2 MW by FY26.

This substantial investment in renewable energy is a part of Maruti Suzuki’s long-term vision to double its production capacity while minimizing its environmental impact. By integrating sustainable energy sources, the company aims to lead the automotive industry towards a greener future.

Maruti Suzuki’s efforts to incorporate renewable energy into its operations demonstrate a significant commitment to sustainability. These initiatives not only reduce the company’s carbon footprint but also set a benchmark for other automotive companies to follow. As the company continues to expand, its focus on renewable energy will play a crucial role in achieving its production and environmental goals.

By investing in both solar power and biogas, Maruti Suzuki is taking a multi-faceted approach to sustainability. This strategy ensures that the company can meet its production demands while also adhering to environmentally friendly practices. The move towards renewable energy sources is expected to provide long-term benefits, not only for the company but also for the environment and society at large.

In conclusion, Maruti Suzuki’s Rs 450 crore investment in renewable energy over the next three years underscores its dedication to sustainability and green operations. As the company gears up to increase its production capacity, its commitment to incorporating sustainable practices will ensure that growth does not come at the expense of the environment.

Read more Business related news on R9 News
Jhumpa Lahiri

Jhumpa Lahiri

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