Indian multinational pharmaceutical company, Cipla Limited has set up a 30-megawatt solar group captive project in Tuljapur, Maharashtra. Since FY19, Cipla has added 48 megawatts of solar energy portfolio through various initiatives such as an on-site rooftop or ground-mounted solar under RESCO model, third-party solar open-access power purchase agreement, and group captive solar open access project.
Spread across 115 acres, the solar project has been commissioned in partnership with AMP Energy India, Cipla said in a regulatory filing.
The project will support the company's green energy requirements for its manufacturing units at Kurkumbh and Patalganga in Maharashtra. It will also help the company reduce emissions upto the extent 35,000 tonnes of carbon dioxide equivalent annually over its project life of 25 years, it added.
''Sustainability is at the core of Cipla's DNA, and this solar power plant is a true reflection of our belief of contributing towards a greener environment. This project is testament to our relentless commitment to use cleaner and renewable sources of energy,'' Cipla president and Global CFO Kedar Upadhye said.
By 2025, Cipla plans to achieve carbon and water neutrality, zero waste to landfill, anti-microbial resistance stewardship and green chemistry, the pharma major said. Reacting to the development, Shares of Cipla rose at Rs 839.70 per share on the National Stock Exchange on closing, up 0.35 percent from its previous close.
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