This post is a part of DIL Intelligence series from Energy Alternatives India (EAI), India’s leading climate-tech consulting firm.
DIL stands for Decarbonization for India’s Leaders and provides comprehensive market intelligence and updates to Indian corporate leaders on prominent decarbonization efforts across the Indian industrial ecosystem. DIL is provided by EAI’s strategy consulting team. More about our consulting from here.
Welspun India, a leading textile company, has been actively investing in climate tech, clean energy, and decarbonization avenues. The company has joined the global coalition to undertake climate action with the Science Based Targets initiative (SBTi) of Net-Zero standard and Business Ambition for 1.5 degrees Celsius to mitigate greenhouse gas emissions. They aim to achieve net-zero emissions by setting up a target aligned with the SBTi NetZero Framework and are developing a decarbonization roadmap to minimize emissions across the value chain operations.
India has a plan to invest Rs. 300 crore to advance the company’s production efficiency, primarily focused on green energy initiatives. They have already allocated Rs. 51 crore towards green energy initiatives and plan to invest Rs. 300 crore by the end of 2024, out of which Rs. 200 crore will be allocated for the green energy projects.
Welspun Energy plans to invest INR150bn ($2.73bn) over the next three years for the development of renewable energy generation in the country. This investment will fund the installation of 1GW of wind power assets and an additional 750MW of solar power generation assets.
Welspun World, through its entity Welspun New Energy Ltd (WNEL) & Gujarat Pipavav Port Limited, is committed to supporting Gujarat’s decarbonization ambitions with a cumulative investment of over Rs 40,000 crores. It plans to build a green hydrogen and green ammonia ecosystem in the state. Welspun India actively moved away from fossil-based energy sources and embraced renewable energy alternatives. By adding biomass, such as wood briquettes and rice husk, to replace coal for power generation, they reduced their carbon footprint.
This post is a part of DIL Intelligence series from Energy Alternatives India (EAI), India’s leading climate-tech consulting firm.
DIL stands for Decarbonization for India’s Leaders and provides comprehensive market intelligence and updates to Indian corporate leaders on prominent decarbonization efforts across the Indian industrial ecosystem. DIL is provided by EAI’s strategy consulting team. More about our consulting from here.
