Maruti Suzuki to Invest ₹450 Crore in Green Energy Initiatives

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Synopsis:

Maruti Suzuki India plans to invest ₹450 crore in renewable energy projects over three years, aiming to double production capacity by 2031 and significantly increase its use of biogas and solar power.

Maruti Suzuki News Today

Maruti Suzuki India has announced a substantial investment of ₹450 crore over the next three years to boost its renewable energy initiatives. Starting from this fiscal year, the investment will focus on projects like solar power and biogas to enhance the company’s environmental sustainability and make operations greener.

Explore: Maruti Suzuki India

Recent Investments and Projects

In FY24, Maruti Suzuki invested ₹120.8 crore in renewable energy projects, including a biogas plant in Manesar. This plant leverages in-house food waste and Napier grass, aligning with the Ministry of New and Renewable Energy’s ‘Waste to Energy’ program.

The biogas plant is designed to produce 0.2 tons of biogas daily, expecting to yield around 100,000 standard cubic metres of biogas in 2024-25 and offset approximately 190 tonnes of CO2 annually.

Future Expansion and Greenfield Sites

Maruti Suzuki plans to double its production capacity to four million units by 2031. This expansion includes two new greenfield manufacturing sites, one in Kharkhoda, Haryana, and another in Gujarat. The learnings from the Manesar biogas pilot will be implemented at these new sites.

Additional Read: Maruti Suzuki India Ltd.- A Complete Guide

Solar Power Initiatives

As part of its green manufacturing practices, Maruti Suzuki is ramping up its solar capacity at its Manesar and Kharkhoda factories. In FY24, the company expanded its solar capacity to 43.2 MWp.

It plans to add 15 MWp to the Manesar plant and 20 MWp to the Kharkhoda plant over the next two years, aiming to reach a total solar capacity of 78.2 MWp by FY26. These efforts align with the United Nations Sustainable Development Goals.

Sustainability Goals

Maruti Suzuki’s Managing Director & CEO, Hisashi Takeuchi, emphasised the importance of energy in the manufacturing process and the company’s commitment to increasing the share of sustainable and renewable energy sources.

This initiative supports Suzuki’s Environment Vision 2050 and aligns with the Indian government’s renewable energy focus.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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