Manufacturer Apollo Tyres has announced the company has ensured green power supply for its largest manufacturing facility in Chennai, Southern India.
The company has made a long-term commitment to sustainability, and this green energy will increase the share of renewable energy at the manufacturing site to more than 30%.
The sustainable energy supply has been guaranteed following an investment by Apollo Tyres of Rs 93m (US$1.2m) in CSE Deccan Solar, a subsidiary of Cleantech Solar. The investment will secure 40 million units of electricity each year for the Chennai site.
With solar power only produced for a few hours each day, and no storage facility available, the tire maker has opted for an offtake of an optimum quantity, equating to approximately 20% of the facilities’ needs.
“Green has become a matter of habit at Apollo Tyres. This investment to secure solar power for our Chennai facility, is one of the several initiatives that we are undertaking towards a sustainable future,” commented Sunam Sarkar, president and chief business officer, Apollo Tyres.
“The solar power that we are securing with this investment, will help us become self-sufficient for our power requirements for critical equipment, and [will]strengthen our commitment towards [the]reduction of carbon emissions.”
With solar energy rates fixed in India for the next two decades, the per unit rate is less than electricity rates from the State Electricity Board. The solar supply is scheduled to begin in July 2022.