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Seshasayee Paper to Source 39 MW Green Power from Ganeko Solar, Joins C&I Renewable Energy Shift

Seshasayee Paper and Boards, a leading Chennai-based paper manufacturer, has announced a strategic move to enhance its renewable energy sourcing by partnering with Ganeko Solar, an affiliate of ZelestraCorporacion, for 39 MW of clean power. The company will invest Rs16.56 crore for up to a 28.1% equity stake in Ganeko’s special purpose vehicle, Navia One Power, which will develop a wind-solar hybrid project in Tamil Nadu. The hybrid setup includes approximately 33 MW of solar and 6 MW of wind capacity.

This initiative is aligned with Seshasayee’s broader sustainability goals. In 2023, the company sourced 70% of the energy needs for its Erode-based unit from renewables and biofuels, consuming nearly 48 lakh GJ of green energy.

The move is part of a growing trend among commercial and industrial (C&I) consumers in India to invest in captive or open access renewable energy projects to meet RE obligations and decarbonization targets. Recent examples include Daimler India, ChemplastSanmar, and UltraTech Cement, all of which have signed similar agreements with green energy developers.

Such partnerships not only provide long-term cost benefits but also strengthen India’s clean energy transition across key industrial sectors.