DCM Shriram has entered into a definitive agreement with Serentica Renewables India 38 for the development of a 58 MW peak hybrid renewable energy power project. In a regulatory filing on Friday, the company confirmed it will invest up to ₹105 crore in one or more tranches to acquire a minimum 26% equity stake in Serentica Renewables India 38 Pvt Ltd. The target entity, incorporated on January 1, 2026, operates in the renewable energy sector and is developing a hybrid power project to supply energy to DCM Shriram Chemicals. The investment will primarily serve DCM Shriram's energy-intensive business operations in Bharuch, Gujarat.
Upon completion of the project, DCM Shriram's total renewable energy capacity will rise to 176 MW (peak) across its two sites in Bharuch and Kota. As reported by PTI, this significant expansion will substantially increase the company's clean energy base. The project will secure approximately 58 MW of renewable power, including 36 MW of round-the-clock supply, for the company's Bharuch plant. The 58 MW peak hybrid renewable energy project will provide sustainable power solutions for the company's business requirements in Bharuch, Gujarat, with the project expected to be commissioned by June 2027.
The investment represents DCM Shriram's commitment to expanding its renewable energy portfolio to support its energy-intensive operations while achieving significant environmental benefits. According to PTI, the 58 MW peak hybrid renewable energy project will provide sustainable power solutions for the company's business requirements in Bharuch, Gujarat. Serentica Renewables will supply the power through a 190 MW renewable energy project comprising solar power from Rajasthan and wind power from Karnataka. The project is expected to help avoid nearly 0.4 million tonnes of CO2 emissions annually while improving cost efficiency and providing visibility into long-term power costs.
The acquisition is expected to be completed by June 30, 2027, providing DCM Shriram with a substantial renewable energy infrastructure for its operations. The Board of Directors had previously approved a total equity investment of up to ₹105 crore for this purpose, with the transaction being funded through cash consideration in one or more tranches. The deal is not a related party transaction and is being conducted at arm's length, as confirmed by company officials. DCM Shriram's business portfolio comprises Chlor-Vinyl chemicals, agri-rural business and value-added business under Fenesta Building Systems, a leading manufacturer of UPVC windows and doors.
