On 29th May 2019, Maruti Suzuki India Ltd made a public announcement on harnessing solar power to meet its energy needs. The company is planning to invest Rs. 24 crores in 5 MW solar power plant which is located at the Gurugram facility. This solar power plant will be for the exclusive use of Maruti Suzuki.
Solar Power Plant at Gurugram facility
Maruti Suzuki disclosed the commencement of the construction of its Solar Power plant on 29th May 2019. The main motive of the plant is to set off the CO2 emissions for the next 25 years. The company is aiming to offset 5,390 tonnes of CO2 emissions annually. This plant will have a unique feature. In addition, this power plant will have a carport-like structure. The carport-like structure will have photovoltaic cells on the rooftop. This structure will work as a new car parking area. The solar power panels will generate clean energy as well as protect cars from strong climatic conditions. The annual output of the plant is estimated at 7,010 MWH. It is expected to be commissioned in FY20. Furthermore, it will have an annual output of 7,010 MWH. This is the second grid-based solar power plant of Maruti Suzuki.
Solar Power Plant at Manesar facility
Maruti Suzuki set up its 1st solar power plant at Manesar in 2014. The capacity of this plant was 1 MW initially. To expand its present capacity, it was further expanded to 1.3 MW in 2018. The company invested Rs. 10.3 crores in this plant. This plant commissioned in June 2014 with the aim of offsetting CO2 emissions to the tune of over 1,200 tonnes annually.
Other important initiatives of Maruti Suzuki
Maruti Suzuki is focused on introducing its environment care initiatives through its products, manufacturing processes and business operations. The company has taken several initiatives in order to save energy. They have installed solar rooftop plants Rohtak R&D facility and Gurugram plant to provide LED street lighting. At Rohtak facility, the company installed refrigerant flow air-conditioners. In order to reduce energy consumption, the company has installed Variable frequency drive (VFD) in Chiller Water circulation pumps. UF & RO spray pumps and air compressors are installed at Manesar facility.
Maruti Suzuki has adopted environment-friendly technologies and is on the track of lowering CO2 emissions. After this announcement, the share of Maruti Suzuki closed down at Rs. 6887.05 on 29th May 2019. The scrip closed at 2.38% lesser than the previous closing.