According to reports, Infosys, India’s second largest IT services exporter, has set an ambitious target of meeting all of its electricity requirements only from renewable resources by 2018. It also plans to set up solar power units that generate a sum total of 170MW by 2018.
Infosys, which met 29.11% of its overall electricity requirements from renewable sources of energy with investment in 15 MW solar photovoltaic plants in FY15, plans to generate 57 MW of solar power in the current fiscal alone.
The IT major has also lined up an investment outlay of $ 65 million to explore carbon-offset projects in an attempt to meet the commitment of 100% renewable energy by 2018
Talking to FE, Ramadas Kamath, executive vice-president and head, sustainability, said: “We plan to set up a 40-MW solar plant in Karnataka this fiscal and are scouting for a suitable location.”
Besides the plan in Karnataka, Infosys will set up a 7 MW unit in Hyderabad and additional rooftop solar power units totalling 8 MW across its various locations in the country. The Indian IT major has plans to meet 40% of its electricity requirements from renewable energy sources in FY16.
Kamath said the long-term sustainability goal would be aimed at reducing its carbon footprint as an organisation with lesser dependency on the public power grid.
Besides, any additional energy will be available for others to use.
Infosys, which started reporting its sustainability metrics eight years ago, has witnessed a measurable return on investment, be it electricity requirements, water conservation or energy conservation initiatives.
According to Kamath, Infosys since 2008 has seen 150% increase in its capacity in terms of people but the power consumption rose only by 13%.
In FY15, Infosys reduced its per capita electricity consumption by 4.34% and achieved 46.04% per capita reduction as against the baseline set in fiscal 2008. For FY16, it plans to reduce this consumption by 3% over FY15 levels.Infosys had became the first Indian company to join RE100, a global platform for major companies committed to 100% renewable power.
Kamath said there is a three fold objective of joining this platform: sharing experience on renewable power, demonstrating the benefits and achieving carbon neutrality.
He expressed confidence that it would be able to reach the target of 170 MW solar power generating units by 2018.
The economics of moving towards solar energy also works in favour of Infosys as it realises the payback in seven-and-a-half-years with the life span of this power panel being around 20 years. The investment for one MW of solar power is estimated to be around $1.2-1.3 million.