Today, more than 40% of the electrical energy consumption of conglomerates is met through renewable sources such as wind, solar and biomass. Offsite solar projects in Bihar, Uttar Pradesh, Karnataka, Haryana, Tamil Nadu and onsite solar projects in West Bengal and Tamil Nadu are underway.
ITC said it plans to invest more in strengthening its renewable energy portfolio to make a significant contribution to tackling climate change. It aims to achieve a 50% reduction in specific emissions and a 30% reduction in specific energy consumption by 2030 in order to mitigate the risks associated with climate change.
The company said it has already made significant investments in renewable energy assets such as combined wind and solar projects. This will improve the share of renewables in the business by an additional 6% from current levels.
ITC’s current renewable energy portfolio includes 138MW of wind power plants and 14MW of solar power plants with approximately 53MW of additional solar capacity running. Projects are also underway in the field of other renewable energy sources such as solar boilers or biomass boilers.
Currently, ITC uses renewable energy in 20 factories, nine hotels and six office buildings.
Sanjiv Rangrass, Group Head – R&D, Sustainability and Projects at ITC Ltd, said that as a sustainability pioneer and role model in environmental management, ITC has insisted on the need to decarbonise consumption energy through green energy solutions to mitigate the risks of climate change.
“Since sustainability was a central goal of all business operations two decades ago, we have been working on a low carbon growth plan, in which expanding our renewable energy portfolio is our top priority. . To pursue the continuous improvement of energy and emissions-related performance, we have set specific targets for reducing energy and greenhouse gas emissions, ”he said.