SBI to save Rs. 30cr through wind/solar power investments annually
(Sourced from PTI)
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.
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.
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.
"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.