DCM Shriram Limited Signs Agreement with Serentica Renewables for 58 MW Renewable Power Project

DCM Shriram Limited Signs Agreement with Serentica Renewables for 58 MW Renewable Power Project​

DCM Shriram Limited has entered into a definitive agreement with Serentica Renewables India 38 Private Limited to develop a 58 MW peak hybrid renewable energy power project. The project is primarily intended to support the company's energy-intensive operations at its Bharuch facility in Gujarat.

Upon completion, this initiative will increase DCM Shriram’s total renewable energy capacity to 176 MW (peak) across its two sites in Bharuch and Kota. The project is expected to be commissioned by June 2027.

Under the terms of 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 38 Private Limited. The transaction involves a cash consideration with an indicative cost of Rs. 104.4 crore.

The acquisition will provide DCM Shriram with approximately 58 MW of renewable power, including roughly 36 MW of round-the-clock supply. The target entity, incorporated on January 1, 2026, is engaged in the generation, transmission, and distribution of energy using non-conventional methods.

Project and Investment Details


The strategic move aims to expand the share of renewable energy across chemical operations in Bharuch while enhancing sustainability. According to Mr. Sabaleel Nandy, Executive Director and CEO of DCM Shriram Chemicals, the project is expected to help avoid nearly 0.4 million tonnes of CO2 emissions annually. He noted that the initiative will improve cost efficiency by providing greater visibility into long-term power costs and reducing exposure to conventional energy price fluctuations.

Mr. Akshay Hiranandani, CEO of Serentica Renewables, stated that the partnership supports India's industrial decarbonization journey. The project involves a 190 MW renewable energy portfolio comprising solar power from Rajasthan and wind power from Karnataka, which will supply the 58 MW required for the Bharuch plant.

The agreement is expected to contribute to improved energy efficiency and a more resilient manufacturing base for DCM Shriram Chemicals as it continues to expand its clean energy footprint.

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