Taking forward its long-term commitment to Sustainability, which is also one
of the key pillars of the company’s 5-year vision, the leading tyre maker, Apollo Tyres Ltd has
ensured green power for its largest manufacturing facility in Chennai, in the southern part of
the country. This will increase the share of renewable energy to more than 30% of the total for
this manufacturing facility.
Apollo Tyres has invested in CSE Deccan Solar, a subsidiary of Cleantech Solar, a sum of INR
93 million, for a 27.2% equity, to get a guaranteed supply of 40 million units of electricity per
annum for its Chennai facility. Considering that solar power gets produced only for few hours
every day, and there is no storage facility available, the company opted for an offtake of an
optimum quantity, which is about 20% of the total requirements in Chennai.
Commenting on this, Sunam Sarkar, President & Chief Business Officer, Apollo Tyres Ltd, said
“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. The solar power that we are securing with this investment, will help us
become self-sufficient for our power requirements for critical equipments, and strengthen our
commitment towards reduction of carbon emissions.”
Considering that the rate of solar power is fixed for the next two decades in India, and is
currently lower than the per unit rate of State Electricity Board, the company is also looking at
cost savings through this deal with Cleantech Solar. The supply of solar power to Apollo Tyres’
Chennai facility is likely to begin in July this year.
Apollo Tyres has an installed capacity to produce around 900 metric tonnes of tyres per day
in Chennai, which includes the passenger vehicle tyres and light, medium & heavy
commercial vehicle tyres.
Your email address will not be published. Required fields are marked *
© 2017 Morjan Media LLC. All Rights Reserved.