Amara Raja invests in advanced lead recycling, solar, to boost green credentials
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'Assessing investments in advanced energy storage' - Jayadev Galla. Photo: Amara Raja
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Indian lead battery manufacturer Amara Raja Batteries has announced plans to invest INR 280 cr (around £2.75m) in building an "advanced technology” lead recycling facility to boost environmental and sustainability goals.
The company said the recycling plant, to be built over the next 18 months on an unnamed greenfield site, will have a recycling capacity of some 100,000 tonnes and will support the group’s lead procurement strategy. Design and technology details were not disclosed.
In addition, Amara Raja will build a 50MW solar power plant, in the Chittoor District of the south-eastern coastal state of Andhra Pradesh, to bring down the cost of powering operations and "reduce our carbon footprint”.
Vice-chairman and MD Jayadev Galla, said the company’s plans were in response to the government’s launch of incentives to increase the use of electric vehicles and to expand renewable energy markets – which "is improving the prospects of various market segments, especially those in which we are operating”.
'Advanced energy storage'
"We are assessing the investment opportunities in advanced and futuristic energy storage technologies to address these emerging market segments,” Galla said.
Amara Raja’s plans were announced as the company posted revenue of INR 1,960.12 cr for the third quarter of its 2021 fiscal year, compared to INR 1747.81 cr in the year-ago period. Profit before tax increased 20% to INR 259.90 cr.
The company said it had also launched its ‘Advanced Lithium Technology Research Hub’ during the quarter, including a pilot battery cell development facility.
CEO Vijayanand Samudrala said: "The planned investments in solar and lead recycling plants will further strengthen our resolve towards a cleaner environment through a sustainable circular economy and also aid a reduction of costs and provide long-term support to our key raw material procurement.”
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The company said the recycling plant, to be built over the next 18 months on an unnamed greenfield site, will have a recycling capacity of some 100,000 tonnes and will support the group’s lead procurement strategy. Design and technology details were not disclosed.
In addition, Amara Raja will build a 50MW solar power plant, in the Chittoor District of the south-eastern coastal state of Andhra Pradesh, to bring down the cost of powering operations and "reduce our carbon footprint”.
Vice-chairman and MD Jayadev Galla, said the company’s plans were in response to the government’s launch of incentives to increase the use of electric vehicles and to expand renewable energy markets – which "is improving the prospects of various market segments, especially those in which we are operating”.
'Advanced energy storage'
"We are assessing the investment opportunities in advanced and futuristic energy storage technologies to address these emerging market segments,” Galla said.
Amara Raja’s plans were announced as the company posted revenue of INR 1,960.12 cr for the third quarter of its 2021 fiscal year, compared to INR 1747.81 cr in the year-ago period. Profit before tax increased 20% to INR 259.90 cr.
The company said it had also launched its ‘Advanced Lithium Technology Research Hub’ during the quarter, including a pilot battery cell development facility.
CEO Vijayanand Samudrala said: "The planned investments in solar and lead recycling plants will further strengthen our resolve towards a cleaner environment through a sustainable circular economy and also aid a reduction of costs and provide long-term support to our key raw material procurement.”
Related articles in our archive:
India ripe for battery storage investments to power 'solar revolution', says IEA