Covestro (India) and Amplus Solar Partner for Solar Power at Greater Noida Facility – Asia Pacific

Covestro (India) Pvt. Ltd., a manufacturer of high-performance polymers, has taken a significant step toward sustainability by signing a long-term power purchase agreement (PPA) with Amplus Solar Shakti Pvt. Ltd.

As per the firm’s statement, this collaboration aligns with Covestro’s commitment to achieving operational climate neutrality by 2035 and reinforces the company’s dedication to renewable energy adoption within India’s energy framework. 

Under this 25-year agreement, Covestro (India) will utilise solar power to meet approximately 60 percent of its annual energy needs at its Greater Noida facility. The partnership with Amplus Solar Shakti, a subsidiary of Amplus Energy Solutions PTE Ltd. and part of the Petronas Group, reflects Covestro’s strategic commitment to sustainable investments that yield both environmental and financial returns.

“This initiative is not just about meeting energy needs; it is also a robust response to Environmental, Social, and Governance (ESG) principles, aiming to significantly reduce Covestro’s carbon footprint while enhancing operational efficiency. The use of renewable resources is integral to Covestro’s vision of advancing towards a circular economy, thereby minimising environmental impact and promoting sustainability,” said the firm in its statement.

By harnessing solar energy through this agreement, Covestro anticipates an annual reduction in CO2 emissions by up to 5,000 tons, with a projected annual generation of 5.5 MW of electricity. This substantial reduction supports the company’s sustainability goals and reinforces its position as a leader in green energy initiatives, benefiting from the supportive governmental policies promoting renewable energy integration in India.

The equity investment in Amplus Solar Shakti further highlights Covestro’s commitment to long-term renewable energy solutions. Throughout the life of the project, Amplus will ensure rigorous governance and compliance with all legal and regulatory standards, maintaining transparency throughout the process.

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