Aim to source 70% power requirement from solar energy in FY24: ABD

Allied Blenders and Distillers (ABD) on Wednesday said it plans to source 70 per cent of its power consumption from solar energy in the next financial year.

In FY22, ABD's units consumed approximately 27 lakh units of electricity from local electricity boards.

"Allied Blenders and Distillers (ABD) Ltd, India's largest domestic alcobev company, announced that it is aiming to replace 70 per cent of the power with renewable solar power in the next financial year (FY'24)," a company statement said.

To achieve, this ABD is installing solar power plants in seven of its units. Total installed capacity of these plants will be 1,400 KW.

Environmental, Social and Governance (ESG) is to take steps to make a difference for the business and the world. The Government of India and respective states are taking several initiatives for cleaner energy and this initiative addresses a similar thinking, it added.

Shekhar Ramamurthy, Executive Deputy Chairman, ABD, said, "We have instilled ESG at the heart of our operations and are taking steps towards a model that will deliver cleaner energy and sustainable value. In addition to replacing 70% of our power with solar renewable power - ABD has embarked on a journey with a vision of minimizing wastage and zero discharge."

Bikram Basu, Vice President, Strategy, Marketing and Business Development at ABD, said, "It's important to move to renewable and cleaner energy. This needs a thinking with ESG at the core of our beliefs and operations, current and future. We are taking the right steps in making the change.