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					</table><p><a href="https://www.grasim.com/" target="_blank" rel="noopener">Grasim Industries</a>, a flagship company of the <a href="https://www.adityabirla.com/" target="_blank" rel="noopener">Aditya Birla Group</a>, will procure renewable power from a 52.3 MW wind-solar hybrid project being developed by Ampin C&amp;I Power Thirty in Harihar, Karnataka.</p>
<p>The project comprises 25.30 MW of solar capacity and 27 MW of wind capacity. Ampin C&amp;I Power Thirty is a special-purpose vehicle (SPV) incorporated to develop the hybrid renewable energy facility under the group captive model.</p>
<p>Grasim said the project will help meet its green energy requirements, optimize energy costs, and comply with regulatory requirements for captive power consumption under electricity laws.</p>
<p>The company will invest up to ₹306 million (~$3.18 million) in one or more tranches to acquire a stake in the special purpose vehicle. The transaction will be completed through cash consideration. After the transaction, Grasim will hold a 26% equity stake in Ampin C&amp;I Power Thirty.</p>
<p>The acquisition is expected to be completed within 180 days from the execution of the energy supply agreement, share subscription agreement, and shareholders’ agreement between the parties.</p>
<p>Grasim has set a target to reduce the Scope 1 and Scope 2 emissions intensity per unit of production by 45% by 2030, relative to the financial year 2022 baseline. The company aims to achieve net zero operations for Scope 1 and Scope 2 emissions by 2050. Its Scope 3 targets cover 90% of base-year emissions.</p>
<p>The company’s renewable energy consumption rose to 3,859,333 MWh in the financial year 2025 from 3,453,667 MWh in the financial year 2024 and 1,765,172 MWh in the financial year 2022.</p>
<p>Renewable energy accounted for 6.5% of Grasim’s total energy mix in the financial year 2025. The company has set a target to increase this share to 16% by the financial year 2030.</p>
<p>Grasim has around 1.93 GW of renewable energy capacity across solar, wind, and hybrid power projects. Its renewable energy business serves the power needs of both group companies and utilities.</p>
<p>Last November, Grasim Industries <a href="https://www.mercomindia.com/grasim-to-procure-solar-power-from-gmr-energys-10-mw-project" target="_blank" rel="noopener">announced</a> that it would invest ₹36 million (~$403,320.60) to acquire a 29% equity stake in GMR Kalinga Solar Power, a special-purpose vehicle of GMR Energy.</p>
<p>In the same month, Solar engineering, procurement, and construction company Prozeal Green Energy <a href="https://www.mercomindia.com/prozeal-ppa-70-mw-wind-solar-hybrid-projects-grasim" target="_blank" rel="noopener">signed</a> a power purchase agreement with Grasim Industries for a 70 MW wind–solar hybrid power project.</p>



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					</table><p><a href="https://www.grasim.com/" target="_blank" rel="noopener">Grasim Industries</a>, an Aditya Birla Group company, will invest ₹36 million (~$403,320.60) to acquire a 29% equity stake in GMR Kalinga Solar Power, a special-purpose vehicle of GMR Energy.</p>
<p>GMR Kalinga is developing a 10 MW solar project from which Grasim will procure power for its chemical manufacturing facility in Ganja, Odisha.</p>
<p>The procurement of power from GMR Kalinga will help Grasim optimize its power costs and comply with captive power consumption requirements.</p>
<p>The acquisition is expected to be completed within 30 days of the share purchase and shareholders&#8217; agreements.</p>
<p>As of the financial year (FY) 2025, around 6.5% of Grasim’s total energy consumption comes from renewable sources. The company has achieved an 11% reduction in emissions intensity compared to its FY 2024 base. Total renewable energy consumption has risen to more than 3.8 million MWh, indicating both a scale-up in green power procurement and increased integration of renewables at the plant level.</p>
<p>Grasim has set a target to reach net zero by 2050.</p>
<p>In its annual business responsibility and sustainability report, the company stated that it is increasing the share of renewable sources for producing chlor-alkali, linen and wool, and porcelain and composite insulators. It consumed 4.32 gigajoules (GJ) from renewable sources in FY 2025, down slightly from 4.58 GJ in FY 2024.</p>
<p>Recently, solar engineering, procurement, and construction company Prozeal Green Energy <a href="https://www.mercomindia.com/prozeal-ppa-70-mw-wind-solar-hybrid-projects-grasim" target="_blank" rel="noopener">signed</a> a power purchase agreement with Grasim Industries for a 70 MW wind–solar hybrid power project.</p>
<p>In March 2024, Grasim Industries <a href="https://www.mercomindia.com/grasim-secures-ifc-for-decarbonization-initiatives" target="_blank" rel="noopener">announced</a> an investment of ₹12.5 billion (~$150.3 million) from the International Finance Corporation, the private sector arm of the World Bank Group.</p>
<p>In April this year, UltraTech Cement, another Aditya Birla Group company, <a href="https://www.mercomindia.com/ultratech-cement-to-source-power-from-ampins-75-mw-solar-project" target="_blank" rel="noopener">announced</a> it would source renewable energy from AMPIN Energy Transition’s SPV AMPIN C&amp;I Power Eight. The company entered into energy supply, share subscription, and shareholders agreements to acquire a 26% equity share in the SPV, investing ₹255 million (~$2.98 million).</p>


Grasim to Procure Solar Power from GMR Energy’s 10 MW Project

<p><a href="https://www.grasim.com/" target="_blank" rel="noopener">Grasim Industries Limited</a>, a textile company of the Aditya Birla Group, signed a shareholders’ agreement with ReNew Green Energy Solutions and ReNew Surya Uday to procure renewable energy from its solar-wind hybrid open access power project as a captive consumer. It has also signed a power purchase agreement with ReNew Surya Uday.</p>
<p>The company has announced that it would invest ₹153.1 million (~$2.06 million) for a 26% stake in ReNew Green Energy Solutions to procure power from its solar-wind hybrid open access project.</p>
<p>ReNew Green Energy Solutions would invest ₹435.8 million (~$5.87 million) to develop the 17.6 MW solar-wind hybrid project in Gujarat for captive consumption by Grasim through the open access mechanism.</p>
<p>ReNew Green Energy Solutions is a subsidiary of <a href="https://renewpower.in/" target="_blank" rel="noopener">Renew Power</a>, an independent renewable power producer.</p>
<p>Last month, Mahindra &amp; Mahindra<a href="https://mercomindia.com/mahindra-mahindra-to-buy-solar-renew/" target="_blank" rel="noopener"> signed</a> a power purchase agreement with ReNew Sunlight Energy, a subsidiary of ReNew Green Energy Solutions, to procure solar power from its open access project as a captive consumer. As per the agreement, the company acquired 31.2% equity shares for ₹160.7 million (~$2.15 million) through the subscription of 16.07 million shares valued at ₹10 (~$0.13).</p>
<p>According to Mercom India Research’s <a href="https://mercomindia.com/product/india-open-access-solar-market-update-q1-2021" target="_blank" rel="noopener">India Open Access Solar Market Update Q1 2021</a>, open access solar installations in India totaled 419 MW in the first quarter (Q1) of 2021, while the cumulative solar installations in the open access market have reached 4.3 GW as of March 2021. The pipeline of projects under development and in the pre-construction phase under open access is estimated to be over 1 GW.</p>
<p>Commercial and industrial units for whom energy constitutes around 65% to 70% of operating expenditure, are moving towards <a href="https://mercomindia.com/group-captive-solar-market-2019/" target="_blank" rel="noopener">procuring</a> power from open access solar projects. Factors such as commitment to 100% clean energy goals by large corporates and meeting renewable purchase obligations are pushing for power procurement through short-term open access. Multinational companies (MNCs) with the strategy to go green are choosing the group captive model.</p>
<p>Mercom recently <a href="https://mercomindia.com/uniform-stable-policies-open-access/" target="_blank" rel="noopener">hosted</a> a webinar to examine the policy framework and consumer feedback on the open access solar market in India. The speakers were in consensus that uniform regulations across states, long-term policies without retrospective changes, and charges are necessary for the open access market.</p>


Grasim to Procure Power from ReNew’s Captive Solar-Wind Hybrid Project

<p>The deadline for signing the Power Purchase Agreements (PPAs) for 655 MW of grid-connected solar photovoltaic (PV) projects in the state of Karnataka has been extended to March 28, 2018.</p>
<p>The projects had been auctioned by Karnataka Renewable Energy Development Limited (<a href="http://kredlinfo.in/" target="_blank" rel="noopener">KREDL</a>).</p>
<p>In the KREDL order, the capacity mentioned for the extension of PPA is 655 MW. However, in the auction, a total of 760 MW of solar PV projects had been auctioned. When contacted for clarification, a KREDL official told Mercom, “100 MW bids were not received, and another 100 MW was under Domestic Content Requirement (DCR) category. So that had to be cancelled keeping in mind the compliance with World Trade Organization (WTO) norms.”</p>
<p>KREDL had <a href="https://mercomindia.com/kredl-tenders-large-scale-solar-projects/" target="_blank" rel="noopener">tendered</a> 860 MW of grid-connected solar PV to be developed across 43 taluks in Karnataka in December 2017 and the auction for <a href="https://mercomindia.com/kredl-750-mw-auction-solar/" target="_blank" rel="noopener">760 MW</a> had concluded in the first week of February 2018.</p>
<p>After the auction, Grasim Industries Limited had filed a writ petition with the Karnataka High Court, stalling the process. Grasim Industries’ petition was based on the fact that the initial deposit of ₹1 million (~$15,414) paid by them had not been uploaded in the e-tendering portal due to a technical glitch, rendering them unable to participate.</p>
<p>The Karnataka High Court then put a <a href="https://mercomindia.com/karnataka-hc-stays-kredl-auction/" target="_blank" rel="noopener">stay</a> on the auction, asking the respondents to appear before it on February 17, 2018.</p>
<p>On February 17, 2018, the court had adjourned the matter until further proceedings. On February 27, 2018, the writ petition filed by Grasim Industries Limited was <a href="http://kredlinfo.in/solargrid/860MW%20grid%20connected%20solar%20power%20projects/extension%20of%20time%20%20860MW.pdf" target="_blank" rel="noopener">dismissed</a> by the Karnataka High Court.</p>
<p>After the removal of the stay order, the winners of the auction had sought extension of time from KREDL to sign PPAs. KREDL has now allowed the winning bidders to enter their PPAs with the distribution companies (DISCOMs) up to March 28, 2018.</p>


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