Maharashtra-based pharmaceutical company JB Pharma has said it sourced 12.1% of its energy needs from renewable sources in 2023-24.

In its third Sustainability (ESG) Report, the company said it had expanded its renewable energy use by sourcing power from solar and wind and installing rooftop solar systems.

JB Pharma also partnered with power trading solutions provider PTC India to secure a medium-term agreement for renewable hybrid power supply.  The partnership will provide approximately 50% of the contract demand at the company’s Panoli operation, with 4 MW each of solar and wind power.

The company’s direct emissions come from operating boilers and other processes, while its indirect emissions are from grid electricity.

So far, JP Pharma has installed 2.7 MW of wind power and 0.63 MW of solar capacity, which has enabled it to receive a total of 13,139,644 kWh of electricity through this initiative.

The company also avoided 9216.7 tCO2 emissions through the use of renewable energy.

The company also reduced its absolute Scope 1 and Scope 2 emissions by 13.9 % in the last financial year. The ESG report said that the pharmaceutical company had reduced the emissions (Scope 1 and Scope 2) intensity per rupee of a turnover by 22.2%.

It reduced its total energy consumption by 5.7% and lowered its energy intensity per rupee of turnover by 14.8%.

In FY 21-22, the company installed a 200 kW rooftop solar system at its Daman plant.  The project generated over 226107 kWh of electricity, leading to significant energy, financial, and emissions savings.

JB Pharma has set a target of meeting 40% of its power demand from renewable energy by FY 2026-27 and 100% by FY 2032-33. It also aims to be carbon neutral in direct operations (Scope 1 and Scope 2 emissions) by FY 2032-33.

In September, another pharma company Lupin entered into a power purchase agreement with Sunsure Energy to procure 21 MW (31.5 MWp)  solar power purchase under an open-access arrangement. Lupin will acquire up to 42.61% of the equity in Sunsure Solarpark Seventeen and procure power from the latter’s 100 MW (150 MWp) solar project in Solapur.

In July, multi-business conglomerate ITC claimed to have met its goal of sourcing 50% of its energy requirements from renewable sources in the fiscal year 2023-24, seven years ahead of schedule.