Sami-Sabinsa plans to set up renewable energy in Karnataka

Sami-Sabinsa, a dedicated health science research company, recently entered an agreement with O2 Renewable Energy to establish 240 MW renewable energy units for long-term power supply. This initiative encompasses 100 MW from wind sources and 140 MW-AC from solar sources.

As part of the arrangement, the Sami-Sabinsa Group and its subsidiaries are set to own 17% equity on a fully diluted basis, enabling the utilization of 8.30 MW-DC of renewable energy. The Group has made an equity capital investment of Rs 3.3 crore.

The renewable energy project is currently underway in Kotturu and Kudligi taluks of Bellary district, strategically intended to power Sami-Sabinsa’s manufacturing facilities in Karnataka. Completion of the project is anticipated by January 2024.

Emphasizing sustainability as a pivotal driver for overall growth, Sami-Sabinsa remains committed to advancing its ESG (Environmental, Social, and Governance) aspirations. The company maintains a resolute focus on reducing its carbon footprint, advocating environmental preservation, waste minimization, and enhancing resource efficiency and sustainability of bioresources.

This investment further underscores our unwavering dedication to integrating sustainable practices across all facets of our operations. Over the course of 25 years, the company aims to procure 300 MU of solar power to energize its seven production facilities located in Karnataka, solidifying its commitment to sustainable energy practices.

News by Rahul Yelligetti