Mumbai, 9th December 2022: Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Electricals & Electronics (E&E) is strengthening India’s energy sector with an emphasis on renewable energy. By 2030, India aims to have 500 GW of non-fossil energy capacity and cover 50% of its energy requirements using renewable energy. Against this backdrop, the Energy Conservation (Amendment) Bill was tabled in Lok Sabha to lower India’s carbon emissions by increasing the country’s demand for renewable energy. Owing to this, Godrej Electricals & Electronics has set a 30% compound annual growth rate (CAGR) target for its renewable energy portfolio over the next three years.
In India, the adoption of renewable energy is expanding swiftly and will fundamentally alter the nation’s electricity sector this decade. India’s transition to a secure net-zero energy pathway is bolstered by three pillars: energy efficiency, electrification, and renewable energy. With the commitment towards energy efficiency, Godrej Electricals & Electronics is aiming for 50 MW to 100 MW solar projects per year. In the line of electrification, Godrej E&E Division’s Power Infrastructure Unit has commissioned more than 25 substations and 300 km of transmission lines of up to 400kV. The project has electrified around 16 lakh households covering 20,000 villages and 56 urban towns across India, in addition to installing millions of solar panels to generate clean power. Moreover, to encourage renewable energy usage in India, the business is currently working on an 85-megawatt (MW) ground-mounted solar project for a state genco, which includes developing the entire infrastructure for power evacuation.
Commenting on this, Raghavendra Mirji, Senior Vice President & Business Head, Godrej Electricals & Electronics, Godrej & Boyce says, “At Godrej & Boyce, we are committed to reimagining sustainability. Ensuring we have access to reliable, clean energy will help us realize that vision as we significantly aim to reduce our global carbon footprint. The renewable energy portfolio is one of the key development areas that we’ve identified in our strategic business plan. With a vision to promote Energy conservation in India, we are aiming to contribute to renewable energy and EHV infrastructure required for the Evacuation of Renewable Energy. We hope to expand our reach to smaller towns in India to improve the quality of power transmission for future generations.”
The Energy Conservation Bill has specified new targets for the carbon credit trading scheme and it requires consumers to meet a proportion of their energy needs from non-fossil sources. Godrej & Boyce provides a variety of equipment, materials, solutions, and services to drive efficient energy management throughout the industry value chain. Godrej Electricals & Electronics Division’s business unit MEP has also executed projects that have been awarded certifications for green and sustainable built environments from various authorities, including IGBC, LEED, GRIHA, and WELL. Further, Godrej Construction, another business of Godrej & Boyce, produces construction and recycled concrete materials. The AAC and Recycled Concrete blocks by the business have over 30% lower embodied carbon as compared to regular virgin concrete blocks. Due to their superior insulation properties, the blocks can contribute to lowering the energy requirement of structures to over 5%.