Indian health science firm Sami-Sabinsa Group Limited revealed a strategic move towards sustainability by announcing a collaboration with O2 Renewable Energy VIII Pvt Ltd for the establishment of 240 MW captive renewable energy installations. The initiative includes the deployment of wind and 140 MW of solar farms on a long-term power supply basis.
Under the agreement, Sami-Sabinsa and its subsidiaries will secure a 17% equity stake, investing INR 33 million (USD 396,015/EUR 361,525), for the utilization of 8.30 MWdc of solar energy. The primary objective of this venture, slated for completion by January 2024, is to power Sami-Sabinsa's manufacturing facilities located in Karnataka.
CEO of Sami-Sabinsa Group, Vijaya Kumar S., emphasized the company's commitment to procuring 300 million units of solar power over 25 years. This sustainable energy source is earmarked for powering the health science company's seven production facilities in Karnataka.
The move aligns with the growing trend of corporations seeking to reduce their carbon footprint and adopt cleaner energy alternatives. Sami-Sabinsa's investment in renewable energy installations reflects not only a commitment to environmental responsibility but also a strategic effort to ensure a sustainable and resilient power supply for its critical manufacturing operations.
