Ambuja Cements to invest INR 6,000 crore in renewable energy projects

MUMBAI — Ambuja Cements plans to invest INR 6,000 crore in renewable power projects, the company said on Monday.

The investment will be funded internally and will aim to set up a capacity of 1,000 megawatts (MW) through solar and wind power projects in Gujarat and Rajasthan, the Adani Group company said in an exchange filing.

The company also said that it plans to achieve the targeted capacity from solar power and wind power projects by 2025-2026. Its current capacity in renewable energy projects is 84 MW.

The announcement comes close on the heels of Ambuja Cements INR 5,185 crore investment for buying a majority stake in Sanghi Industries earlier this month.