At present, more than 40% of its electrical energy consumption is met through renewable sources like wind, solar and biomass. Offsite solar projects in Bihar, Uttar Pradesh, Karnataka, Haryana & Tamil Nadu and onsite solar projects in West Bengal and Tamilnadu are under execution
Aims to achieve a 50% reduction in specific emission and 30% reduction in specific energy consumption to mitigate climate change risks
ITC Limited, one of India’s leading multi-business conglomerates and a global exemplar in sustainability, has set itself the target to meet 100% of purchased grid electricity requirements from renewable sources by 2030. In line with its philosophy of ‘Responsible Competitiveness’, the Company has adopted a low carbon growth strategy which encompasses a large renewable energy footprint. At present ITC meets over 40% of its electrical energy requirement through renewable sources like wind, solar and biomass. As a part of its Sustainability 2.0 Vision, ITC is planning to invest further in strengthening its renewable energy portfolio in order to contribute meaningfully to the fight against climate change.
Investments in renewable energy :- In its endeavour to contribute to a ‘cleaner and greener’ environment, ITC has been expanding its renewable energy footprint over the past two decades. The company has already made significant investments in renewable energy assets (Wind and Solar projects combined). This will improve Renewable Energy share of company by additional 6% from current levels.
Current renewable energy portfolio:- The current renewables portfolio of ITC consists of 138 MW of wind power plants and 14 MW of Solar plants with ~53MW of additional solar capacity under execution. Projects are also underway in the area of other sources of renewable energy like solar boiler or biomass boilers. At present, ITC uses renewable energy across 20 factories, 9 hotels and 6 office buildings spanning states such as Telengana, Tamil Nadu, Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Delhi, Bihar, Haryana, West Bengal and Punjab. In 2018, ITC became the first private sector entity to wheel renewable energy across states through Inter-State Open Access mechanism. Currently, the 46MW Wind power plant in Andhra Pradesh owned by ITC supplies power to over 15 ITC establishments in 8 states. This has led to a higher Renewable energy utilization for the company.
Emission Reduction Targets:- Besides investing in new renewable energy assets, ITC also aims to achieve a 50% reduction in specific emission and 30% reduction in specific energy consumption by 2030 over a 2014-15 baseline. Such efforts in decarbonizing energy consumption through low-carbon energy solutions will be met through large-scale digitalisation and R&D initiatives, cross-sectoral collaborations and partnerships.