Jubilant Ingrevia has signed a power purchase agreement with O2 Power, supplying over 35% of its total energy requirements across its SEZ Bharuch Manufacturing Facility. Jubilant Ingrevia Limited, a prominent player in the life sciences and specialty chemicals sector.
Taken a substantial step towards sustainability by entering into a Power Purchase Agreement (PPA) with O2 Power. This agreement, executed through its wholly-owned subsidiary, Jubilant Infrastructure Limited, aims to supply renewable energy to its Special Economic Zone (SEZ) manufacturing facility located in Bharuch, Gujarat.
Details of the Agreement
Under this PPA, O2 Power will provide approximately 54 million units (MU) of renewable energy annually to the Bharuch facility. The energy will be sourced from a co-located wind-solar hybrid project situated in Maharashtra, connected via interstate transmission. This arrangement is structured under a third-party open access model, allowing Jubilant Ingrevia to directly procure renewable energy from O2 Power’s project.
Impact on Energy Consumption
The integration of this renewable energy is expected to meet 50% of the total power requirements of the Bharuch manufacturing facility. This initiative aligns with Jubilant Ingrevia’s broader strategy to enhance its renewable energy footprint across its operations.
Previous Renewable Energy Initiatives
This agreement follows similar renewable energy initiatives undertaken by Jubilant Ingrevia at its other manufacturing sites. The company has previously entered into agreements for its facilities in Savli, Gujarat, and Gajraula, Uttar Pradesh, with the supply of green energy scheduled to commence in April 2025.
Statements from Leadership
Deepak Jain, CEO and Managing Director of Jubilant Ingrevia Limited, emphasized the company’s commitment to sustainability, stating that the partnership with O2 Power is a crucial part of their long-term strategy to integrate renewable energy into their operations. He highlighted that this agreement for the Bharuch facility reflects the company’s dedication to reducing carbon emissions and ensuring sustainable business growth.
O2 Power’s Role in Renewable Energy
O2 Power, established in 2020, has rapidly positioned itself as a significant player in India’s renewable energy sector. The company focuses on developing and operating utility-scale renewable energy projects, including solar, wind, and hybrid solutions. Their collaboration with Jubilant Ingrevia underscores their commitment to providing tailored renewable energy solutions to industrial clients, supporting their sustainability goals.
Environmental and Economic Benefits
The shift towards renewable energy at the Bharuch facility is anticipated to yield substantial environmental benefits by reducing greenhouse gas emissions associated with conventional energy sources. Economically, this transition is expected to provide cost savings over time.
As renewable energy sources often offer more stable and predictable pricing compared to fossil fuels. Jubilant Ingrevia’s PPA with O2 Power for its Bharuch facility represents a significant advancement in the company’s sustainability journey. By securing 50% of the facility’s energy needs from renewable sources.
The company not only reduces its environmental footprint but also sets a benchmark for integrating green energy in industrial operations. This initiative reflects a growing trend among corporations to adopt renewable energy solutions, contributing to global efforts in combating climate change and promoting sustainable industrial practices.
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