Maruti Suzuki India Ltd. announced on Wednesday a substantial investment of ₹450 crore over the next three years to commission renewable energy projects, focusing on solar power and biogas. This initiative is a significant step towards the company’s goal of increasing its sustainable energy footprint as it scales up production.
In the fiscal year 2023-24, Maruti Suzuki invested ₹120.8 crore in renewable energy. This investment is set to nearly quadruple starting from FY25, as the company intensifies its efforts to integrate more renewable energy sources into its operations.
“As we ramp up our production capacity from around 2 million to 4 million by 2030-31, we are also accelerating our efforts to increase the share of sustainable and renewable energy sources across our operations,” said Maruti Suzuki Managing Director & CEO Hisashi Takeuchi. “Just as we are bringing multiple technologies in products, we will also focus on multiple renewable energy sources to make our operations greener.”
A significant component of this renewable energy push is a pilot biogas plant at Maruti Suzuki’s Manesar facility, set to commence operations in FY25. The plant will utilize in-house food waste to produce biogas, with an anticipated daily output of 0.2 tonnes. This initiative is expected to yield about 1 lakh standard cubic meters of biogas annually, offsetting approximately 190 tonnes of CO2 emissions per year.
Moreover, Maruti Suzuki has expanded its solar power capacity to 43.2 MW in FY24. Plans are underway to add 15 MW of solar capacity to its Manesar plant and 20 MW to the upcoming Kharkhoda plant over the next two years. These additions will bring the total solar capacity to 78.2 MW by FY26.
This renewable energy investment aligns with Maruti Suzuki’s broader strategy to enhance its production capabilities and sustainability. The company is on a path to double its production capacity to 4 million units by 2030-31, necessitating a parallel increase in sustainable practices.
The investment in renewable energy not only underscores Maruti Suzuki’s commitment to sustainability but also positions it as a leader in the automotive industry’s transition to greener manufacturing processes. As the company continues to innovate in its product offerings, it remains equally focused on integrating renewable energy solutions to mitigate its environmental impact.
Maruti Suzuki’s proactive approach towards renewable energy reflects a broader industry trend where automotive manufacturers are increasingly adopting sustainable practices. This initiative is expected to set a benchmark in the industry and inspire other manufacturers to follow suit.
Key Points:
- Investment: ₹450 crore over three years starting FY25.
- Current Investment: ₹120.8 crore in FY24.
- Renewable Energy Projects: Focus on solar power and biogas.
- Pilot Biogas Plant: Manesar facility, producing 0.2 tonnes of biogas daily.
- Solar Capacity Expansion: Increasing to 78.2 MW by FY26.
- Production Goals: Doubling capacity to 4 million units by 2030-31.
Maruti Suzuki’s comprehensive renewable energy strategy highlights its dedication to sustainable growth and environmental stewardship, setting a positive example for the industry and contributing significantly to India’s renewable energy goals.