DCM Shriram and ReNew Power have signed two Captive Power Agreements (CPAs), to supply 50 MW of renewable energy from its two upcoming projects in Bhavnagar, Gujarat, to DCM Shriram’s Chlor-Alkali manufacturing facility in Bharuch district, Gujarat. The combined transaction is one of the largest corporate renewable power supply deals in India under an OpEx (operating expenses) with a captive model.
The 50-MW hybrid project, which overall has 100 MW of wind and solar generation capacity at its backend, is expected to generate 250 million units of renewable energy every year exclusively for the DCM Shriram, Bharuch facility. The CPAs have been signed for 25 years and will mitigate 2,25,000 tCO2e (carbon emissions) annually. ReNew will be setting up the two hybrid projects with a total investment of Rs 800 crore through an equity partnership of Rs 63 crore by DCM Shriram.
DCM Shriram is engaged in the business of fertilizer, sugar and caustic soda.
