Schneider Electric Allocates Rs.3,200 Crore for Expansion in India
Schneider Electric India has planned an investment of Rs 3,200 crore by 2026 to expand its presence in the country, according to the company's CEO and MD, Deepak Sharma. Sharma, who is also the President of the Greater India region, told PTI in an interview that the investments would be made in nine states.
"In line with our growth objectives, we intend to invest EUR 350 million (Rs 3,200 crore) in expanding our industrial footprint by 12,000,000 square feet by 2026." These investments have been made in Gujarat, Telangana, Karnataka, West Bengal, Odisha, Tamil Nadu, Maharashtra, Himachal Pradesh, and Uttarakhand, according to Sharma.
When asked if the investments include setting up green capacities, he said Schneider Electric aims to become net-zero in its operations by 2030, end-to-end carbon neutral value chain by 2040, and net-zero CO2 emissions across its entire value chain by 2050.
"Our company manages over 700 MW of renewable energy power purchase agreements and offers long-term solutions." It includes on-site solar installations as well as off-site solar and wind energy procurement. "Approximately 15% of solar power installed in India is powered by Schneider Electric solutions," he said.
The Luminous brand of the company powers 100 million consumer homes with inverters, batteries, and solar energy solutions.
"We are also supplying 1.5 million prepaid smart metres to Energy Efficiency Services Ltd (EESL) in Bihar, Haryana, and Uttar Pradesh, and we plan to continue the rollout of feature-rich smart metres for projects under the revamped distribution sector scheme (RDSS) scheme," he added.