O2 Power Steps up Supply to Dr. Reddy’s Laboratories with 17.82 MW Solar, 27 MW Wind

O2 Power to Power Captive Solar Power to APM Terminals

Renewable energy platform, O2 Power has stepped up its renewable energy agreement with Dr. Reddy’s Laboratories, a leading multinational pharmaceutical firm. The initial agreement paved the way for the supply of 15 MW of renewable power from O2 Power’s plants in Telangana. This has now been augmented to an additional 17.82 MW of solar capacity and 27 MW of wind power to the pharma firm- a captive consumer, through the inter-state transmission system (ISTS).

Kirankumar Perka, Head of Open Access & C&I at O2 Power, said, “We are excited to strengthen our partnership with Dr. Reddy’s Labs. The deepening of our relationship will not only enable a consistent and reliable supply of renewable power but will also allow innovations. It will contribute to reducing their carbon footprint and operating costs substantially, and will make a lasting positive impact on the environment.”

Back in May, pharma player Sami-Sabinsa Group signed a long-term mutual agreement with the clean energy major O2 Renewable Energy for the purchase of 150 million units (MU) of renewable power over a 25-year period.

India is called the ‘Pharmacy of the World’ as the industry has the highest share in the world in terms of volume of production and exports. As per the World Economic Forum, “the sector is responsible for 4.4% of global emissions and its CO2 footprint is forecast to triple by 2050 if left unchecked. In 2019, the pharmaceutical industry produced 48.55 tonnes of CO2 equivalent for every $1m it generated – or 55% more than the automotive industry, which emitted 31.4 tonnes per $1m generated in the same year.” Having recognised this, the industry is now trying to decarbonize its footprints through investments in renewable energy projects.