Green Energy: Bharat Serums invests in captive solar power project in Maharashtra

New Delhi/Mumbai: Bharat Serums and Vaccines (BSV), a leading biopharmaceutical company in India has reaffirmed its commitment to Environmental, Social and Governance (ESG) initiatives by investing 26% stake on a fully diluted basis in AMP Energy C&I One Private Limited, a wholly owned subsidiary of AMP Energy C&I Private Limited. 

This will support BSV’s green energy requirements for its manufacturing facility at Ambernath, Maharashtra and is in line with its endeavor to emerge as a carbon neutral company by 2050, in addition to achieving water neutrality, product stewardship and integrated management system.

Aimed at driving a comprehensive sustainability blueprint for the future, this investment will help BSV avoid carbon dioxide emissions by as much as 6560 tonnes of carbon dioxide equivalent (tCO2e) annually over its project life of 25 years.

Speaking about this, Sanjiv Navangul, Managing Director & CEO, Bharat Serums & Vaccines Ltd., said, “Sustainability at BSV is all-encompassing, with responsibility towards the environment, workplace, community, and all other stakeholders. We continue to work towards embedding sustainability in whatever we do. This solar project resonates our belief in building a greener environment, judiciously using natural resources and renewable sources of energy, while creating measurable social impact.”

Chirag Mehta, Chief Financial Officer, Bharat Serums & Vaccines Ltd., added, “As a responsible corporate, we are committed to mitigating the effects of climate change. This reaffirms our belief of enhancing our proportion of solar-based power consumption while complying with regulatory requirements of power consumption and contributing in our own humble way towards India’s commitment of achieving 40 per cent of its installed electricity capacity from non-fossil energy sources by 2030.”