Apollo Tyres commits to raising share of renewable energy use to 25% by 2026
The Hindu
‘Almost 10% of power requirement in FY22 was met by renewable sources’
Apollo Tyres Ltd. (ATL) has committed to increase its usage of renewable energy in total power share from 10% to 25% by 2026.
At an overall organisation level, almost 10% of power requirement in FY22 was met by renewable sources, and ATL said it was committed to raise this to 25% by 2026, the leading tyre manufacturer in a statement..
With the Andhra Pradesh facility running only on biomass, ATL had ‘accelerated its journey towards renewable energy usage across operations and its move away from fossil fuels’, it said.
The Chennai plant has a guaranteed supply of 40 million units through its investment in solar power; similarly, the Vadodara facility has captive capacities for solar and wind energy.
In line with international tyre manufacturers, ATL has set a goal of achieving use of 40% sustainable material in its tyre compounds by 2030. The split-up of sustainable materials will be 30% biomaterial and 10% recycled material.
The company is investing in R&D and manufacturing to achieve this target and is conducting lifecycle assessments for its products, it added.
“With an aspiration to be carbon neutral by 2050, we are working towards creating climate-resilient operations,” said Neeraj Kanwar, vice chairman and MD.
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