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JK Cement, Punjab Renewable Energy Systems sign MoU

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JK Cement has signed a memorandum of understanding (MoU) with Punjab Renewable Energy Systems Private Limited (PRESPL) - India’s largest biomass aggregation and densification company.

The MoU, valid for 10 years, is part of JK Cement’s goal to decarbonise its operations and aims to significantly scale up the use of biomass-based and alternate fuels as a replacement for fossil fuels.

Speaking about the collaboration, Monish Ahuja, chairman and managing director of PRESPL, said: “Our collaboration in the biomass-based bioenergy sector with JK Cement heralds the beginning of an ‘Energy Transition Sojourn’ that will ensure a better environment and usher in more eco-friendly energy solutions in the market, with deeper ‘Atmanirbhar Bharat’ connect, while energising the rural sector through financial inclusion and achieving our commitment sustainable development goals and meeting the HSSE and ESG Standards.”

Rajnish Kapur, chief operating officer at JK Cement, said the company is “delighted” to enter into a long-term partnership with PRESPL.

“Long-term planning for the supply of biomass and agro-waste is key to our sustainability goals – where we have taken the ambitious target of reducing current emissions from 593 kg/t of cement product in FY20 by more than 20% till FY30.

“This will support us in replacing our fossil fuel consumption by more than 35% TSR by 2030, thereby leading to our significant milestone of being net-zero in carbon emissions by 2050.”