Jubilant Ingrevia strengthens ESG leadership with major O2 Power renewable energy deal

Jubilant Ingrevia Limited has reinforced its commitment to sustainability by signing a power purchase agreement with O2 Power for its Bharuch manufacturing facility. The deal will ensure that 50% of the site’s total energy requirements are met through renewable energy, marking a significant step in the company’s broader transition towards clean energy adoption.

This agreement, signed through Jubilant Ingrevia Limited’s subsidiary, Jubilant Infrastructure Limited, comes on the heels of similar renewable energy initiatives at its Savli, Gujarat and Gajraula, Uttar Pradesh manufacturing sites. The renewable energy supply for those facilities is set to commence in April 2025. With this latest initiative, the company aims to further reduce its carbon footprint while aligning with India’s national goals for a sustainable energy transition.

Strengthening ESG commitments through O2 Power partnership

Deepak Jain, CEO & Managing Director of Jubilant Ingrevia Limited, stated that the O2 Power partnership is a crucial part of the company’s long-term strategy to integrate sustainability into its operations. He explained that the decision to incorporate renewable energy at the Bharuch manufacturing facility reflects the company’s commitment to reducing carbon emissions and ensuring sustainable business growth.

Parag Sharma, Founder and CEO of O2 Power, echoed similar sentiments, expressing enthusiasm about expanding the collaboration. He noted that O2 Power is dedicated to providing reliable and clean energy solutions to industrial partners like Jubilant Ingrevia Limited, thereby supporting the broader shift towards a low-carbon economy.

Jubilant Ingrevia Limited’s sustainability roadmap

With the signing of this latest contract, over 35% of Jubilant Ingrevia Limited’s total energy consumption across all manufacturing sites will now be met through renewable sources. This aligns with the company’s Environmental, Social, and Governance (ESG) goals, which have positioned it among the leading players in sustainable chemicals and life sciences.

The company has a long-standing history of ESG leadership, dating back to the early 2000s, with recognitions in global sustainability indices such as the S&P Dow Jones Sustainability Index (DJSI), Ecovadis, and the CDP Climate Change Program. In addition to its investments in renewable power, Jubilant Ingrevia Limited is also integrating biomass energy into its operations to further decarbonize its manufacturing processes.

Bharuch manufacturing facility earns WEF recognition

The company’s Bharuch manufacturing facility recently gained international recognition from the World Economic Forum (WEF), being designated a Global Manufacturing Lighthouse as part of the 2024 cohort. Jubilant Ingrevia Limited was the only chemical company to receive this recognition, underscoring its leadership in digital transformation and its commitment to operational efficiency and sustainability.

By leveraging Fourth Industrial Revolution (4IR) technologies, the facility aims to enhance production efficiencies while maintaining the highest standards of environmental responsibility.

Investor sentiment and future outlook

Jubilant Ingrevia Limited’s increasing focus on renewable energy integration and sustainable manufacturing has been viewed positively by investors, particularly those prioritizing ESG-compliant portfolios. The company’s recent initiatives suggest a strong push toward long-term cost savings, enhanced regulatory compliance, and improved brand reputation among global clients.

As governments and businesses worldwide intensify their push for clean energy solutions, Jubilant Ingrevia Limited’s O2 Power partnership positions it as a forward-thinking player in the specialty chemicals and life sciences industries. With additional sustainability initiatives on the horizon, the company is likely to continue expanding its green energy footprint across its global operations.