New Delhi, 18 th July 2026 – DCM Shriram Limited has entered into a definitive agreement with Serentica Renewables India Pvt. Ltd. for the development of a 58 MW peak hybrid renewable energy power project, primarily for its energy-intensive business in Bharuch, Gujarat. Upon completion, DCM Shriram’s total renewable energy capacity will rise to 176 MW (peak) across it two sites in Bharuch & Kota, significantly expanding its clean energy base. The project is expected to be commissioned by June 2027. Under the agreement, DCM Shriram Limited will invest up to Rs. 105 crores in one or more tranches to acquire a minimum 26% equity stake in Serentica Renewables India Pvt. Ltd.
Commenting on the development, Mr. Sabaleel Nandy, Executive Director & CEO, DCM Shriram Chemicals, said, “The agreement is a strategic step in expanding the share of renewable energy across our chemical operations in Bharuch and our ongoing efforts towards making the business more sustainable. The project is expected to help avoid nearly 0.4 million tonnes of CO₂ emissions annually while increasing the share of renewable power. Further given, that power is one of the most significant input costs, this will help improve cost efficiency, provide greater visibility into long-term power costs and reduce exposure to fluctuations in conventional energy prices.”
Commenting on the partnership, Mr. Akshay Hiranandani, CEO, Serentica Renewables, said, “Our partnership with DCM Shriram Chemicals marks another significant step in advancing India’s industrial decarbonization journey. Through a 190 MW renewable energy project comprising solar power from Rajasthan and wind power from Karnataka, we will supply 58 MW renewable power to DCM Shriram Chemicals Bharuch plant, enabling reliable and sustainable energy for its operations.’’
The agreement strengthens DCM Shriram Chemicals renewable energy portfolio while supporting the long-term energy requirements of its Bharuch operations. Once commissioned, the project is expected to contribute meaningfully to the company’s efforts to improve energy efficiency, reduce emissions and build a more resilient and sustainable manufacturing base.
About DCM Shriram Limited:
DCM Shriram Ltd. is a leading business conglomerate with a group turnover of Rs 14,264 Crores. The business portfolio of DCM Shriram comprises (a) Chlor-Vinyl Business – Caustic Soda, Chlorine, Calcium Carbide, Aluminium Chloride, PVC resins, Power and Cement (b) Agri-Rural Business – Urea, Sugar, Farm Solution Business covering the entire range of agri-inputs, R&D-based Hybrid Seeds (c) Value-added business Fenesta Building Systems making UPVC windows and doors.
For more information, please visit https://www.dcmshriram.com/about-us
About DCM Shriram Chemicals:
DCM Shriram Chemicals is a part of 139 year old DCM Shriram group and is India’s second-largest chlor-alkali manufacturer, with a total installed capacity of 1 million MTPA, operating state-of-the-art production facilities in Bharuch and Kota. The business operates in 3 key segments – (a) Chlor alkali comprising of caustic soda, chlorine, hydrogen, hydrochloric acid, aluminium chloride; (b) Advanced Materials comprising Epoxy resins, Formulated resins, Epichlorohydrin, Glycerine; & (c) Value added product like hydrogen peroxide. DCM Shriram Chemicals plays a vital role in supporting sectors such as textiles, pharmaceuticals, water treatment, chemicals and other industrial applications. The business is committed to building future-ready manufacturing capabilities through technology-led transformation, operational excellence, safety and sustainability.
For more information, visit: www.dcmshriramchemicals.com
About Serentica Renewables:
Established in 2022, Serentica Renewables is a leading renewable independent power producer (IPP) committed to decarbonizing hard-to-abate industries by providing firm dispatchable renewable energy (FDRE) solutions. With a vision to make renewables the primary energy source across India’s energy landscape, Serentica is driving large-scale decarbonization & contributing to the nation’s broader goals, including through government tenders.
The company has achieved a significant milestone by reaching 3,000 MW of renewable energy capacity, with ongoing projects across multiple states, leveraging a mix of solar, wind, energy storage, and advanced balancing solutions. Serentica’s innovative approach ensures reliable and cost-effective green power for its growing customer base, which includes some of India’s largest energy-intensive industries. Backed by a $650 million investment from KKR, Serentica aims to supply over 50 billion units of clean energy annually, enabling the displacement of 47 million tons of CO2 emissions. With a strong pipeline of projects under development, the company is at the forefront of India’s energy transition, deploying cutting-edge technology and innovative contractual structures to accelerate the shift to sustainable power.
For more information, please visit www.serenticaglobal.com
