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News Indian cement sector will use 40% renewable energy in 2025 financial year

Indian cement sector will use 40% renewable energy in 2025 financial year

Written by Global Cement staff 19 September 2023
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India: Ratings agency ICRA says that the cement industry in India will reach a renewable energy reliance of 40% across its operations in the 2025 financial year. The Hitavada newspaper has reported that this will involve the construction of 537MW-worth of new renewable power capacity. During the 2023 financial year, which ended on 31 March 2023, producers used 35% renewable energy. ICRA said that they can expect to make costs savings of US$240m/yr from 2025 through the scale-up of renewables, including solar, wind and waste heat recovery. This would correspond to a 15 – 18% reduction of estimated energy costs for the 2025 financial year.

Over the same two-year period, ICRA forecast blended cements to rise to 81% of cement sales in the 2025 financial year, from 78% in the 2023 financial year.

Last modified on 20 September 2023
Published in Global Cement News
Tagged under
  • India
  • Energy
  • Electricity
  • Solar power
  • Investment
  • costs
  • blended cement
  • ICRA
  • Forecast
  • Outlook
  • Sustainability
  • CO2
  • GCW626
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