DCM SHRIRAM SIGNS AGREEMENT WITH SERENTICA RENEWABLES FOR 58 MW HYBRID RENEWABLE ENERGY PROJECT IN GUJARAT

$DCMSHRIRAM has signed a definitive agreement with Serentica Renewables India Pvt. Ltd. to develop a 58 MW hybrid renewable energy project to supply round-the-clock (RTC) clean power to it's energy-intensive chlor-alkali operations in Bharuch, Gujarat. The project, scheduled for commissioning by Jun27, will increase the company's total renewable energy capacity from 118.40 MW to 176.40 MW, strengthening it's renewable energy portfolio and supporting it's long-term decarbonization strategy. As part of the agreement, $DCMSHRIRAM will invest up to Rs. 105 crore, in one or more tranches, to acquire a minimum 26% equity stake in Serentica Renewables India Pvt. Ltd. Once operational, the project is expected to strengthen the company's renewable energy capacity while improving energy efficiency, reducing greenhouse gas emissions, and supporting the development of a more resilient and sustainable manufacturing base.