Hector Beverages will be able to generate approximately 523,000 kWh of clean energy annually through the solar rooftop project, cutting down 430 tonnes of carbon emissions. In addition, the solar rooftop project will enable the company to meet approximately 58% of its power requirement at 30% lower cost than prevailing grid electricity tariffs.
Furthermore, the company has received approvals for net metering, which will allow it to export surplus solar power to the grid, thereby saving approximately more than Rs11 million on its electricity bills annually.
Speaking about the partnership with Hector Beverages, CleanMax co-founder Andrew Hines said, “This project promises to significantly reduce operating costs for Hector Beverages, through our operating expenditure (opex) model—wherein systems are owned and installed by third-party investors—of solar power generation. Moreover, it will further contribute to Hector Beverages’ vision of sustainable manufacturing. In a world in which we are already witnessing the effects of climate change firsthand, Hector Beverages is leading the way by demonstrating its commitment to sourcing of natural materials, including energy.”
Hector Beverages co-founder and CEO Neeraj Kakkar said “This partnership is all about driving positive change in terms of the food and resources we consume. As a brand, we promote naturally procured resources and we would like to extend this to the way our drinks are manufactured. In keeping with this objective, we are proud to partner with CleanMax Solar, an organization which shares these values and provides us with a clean energy solution that allows us to offset the greenhouse gas emissions from our manufacturing facilities, as part of our broader sustainability commitments.”
In April this year, CleanMax Solar—which aims to more than double its customer base from 120 corporates to 300 by 2022—raised Rs 275 crore from Macquarie-managed UK Climate Investments to support its expansion of renewable energy portfolio from 500 MW to 2 GW in the next three years.