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Home / News / Business News / SBI to save Rs. 30cr through wind/solar power investments annually
Business

SBI to save Rs. 30cr through wind/solar power investments annually

SBI to save Rs. 30cr through wind/solar power investments annually
Written by Ramya Patelkhana
(Sourced from PTI)
Apr 21, 2018, 08:55 pm 2 min read
SBI to save Rs. 30cr through wind/solar power investments annually

On the eve of World Earth Day, State Bank of India said it saved Rs. 125cr in the last eight years by installing 10 windmills, and expects to save Rs. 30cr annually through its renewable energy investments. It installed 10 windmills having a capacity of 1.5MW each, six in Maharashtra, three in Tamil Nadu, and one in Gujarat since 2010 and saved energy costs.

Details
SBI possesses capacity of 21.23 MW in renewable power sources

SBI also invested in solar power and now possesses a capacity of 21.23 MW in renewable power sources, it said, adding that taking it to 25 MW will help it save Rs 30cr every year. It, however, did not specify the time by which it aims to take up the capacity to 25 MW or any details of the investments on such initiatives.

Solar Energy
SBI set up 151 solar rooftop sites

SBI said it aims to be carbon neutral and also announced that it has set up 151 solar rooftop sites that have a capacity to generate 6.23 MW of power. Energy generated through these renewable sources is solely for captive use by the bank's various offices and branches across the country, making them free of any carbon emission, it added.

Quote
We reaffirm commitment to being responsible corporate: SBI Chief

"With various climate action plans, we reaffirm our commitment to being a responsible corporate aligned with sustainable business practices," State Bank of India Chairman Rajnish Kumar said in the statement.

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Ramya Patelkhana <br/><i>(Sourced from PTI)</i>
Ramya Patelkhana
(Sourced from PTI)
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Ramya Patelkhana is a senior editor at NewsBytes. She has nearly seven years of experience in digital journalism and has previously worked with India News and Authint Media. She has a Bachelor's degree in Journalism and Mass Communication from the IK Gujral Punjab Technical University, Kapurthala, and an advanced diploma in Media Studies from IPW, New Delhi.
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