New Delhi, Jun 24 (PTI) India's third largest cement manufacturer Shree Cement on Monday announced achieving installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit.

"The one GW (Gigawatt) capacity includes a mix of solar, wind, thermal and waste heat recovery power plants, showcasing Shree Cement's diversified approach to meeting the electricity demand for cement production," the Bangur family-promoted firm said in a statement.

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The company has made an investment of Rs 4,000 crore to expand the renewable portfolio, which now accounts for nearly half of the installed power capacity.

"Looking ahead, an estimated capex of Rs 1,000 crore is planned in FY25 for installation of additional renewable energy capacity," it said.

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This includes the installation of 132 MW of solar capacity in five states - Jharkhand, Haryana, Rajasthan, Uttar Pradesh and Uttarakhand, 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnataka and Rajasthan.

"Achieving a power capacity portfolio of this size ensures that we have abundant electricity to not just power our existing cement production but also our expansion projects. We will contribute the surplus power to states and central grid," Managing Director Neeraj Akhoury said.

Shree Cement has an installed capacity of 56.4 MTPA (million tonne per annum) and aims to increase it to 80 MTPA by 2028.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)