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Grasim Industries to Source 10 MW Captive Solar Power from GMR Renewables’ Odisha Project

Grasim Industries has announced that it will procure 10 MW of captive solar power from GMR Renewables for its chemical plant located in Ganjam, Odisha. The upcoming solar plant is expected to begin operations in 2026.

As part of the arrangement, Grasim has signed a Share Subscription-Cum-Shareholders’ Agreement with GMR Kalinga Solar Power (the SPV) and GMR Energy to acquire 29% equity in the SPV. The investment, capped at INR 3.60 crore, will be made in one or more tranches, according to the company’s regulatory filing.

Grasim stated that the acquisition is aimed at meeting its green energy requirements, optimizing energy costs, and complying with captive power regulations under electricity laws. In a statement on social media, GMR Renewables said the partnership underscores their shared commitment to helping large industries achieve decarbonisation targets and accelerating India’s clean energy transition.

Earlier in the month, Grasim signed a power purchase agreement (PPA) with Prozeal Green Energy for 70 MW of wind–solar hybrid projects, comprising 49.50 MW in Gujarat and 20.50 MW in Andhra Pradesh. This move further expands Grasim’s renewable energy portfolio.

According to the company’s FY25 Annual Report, renewable energy accounted for 6.5% of Grasim’s total energy mix, with 38,59,333 MWh consumed from renewable sources. The company aims to increase its renewable energy share to 16% by 2030.