New Delhi: Granules India Ltd., a leading pharmaceutical company, has entered a strategic partnership with Greenko Group, backed by GIC Holdings Pte Ltd, Abu Dhabi Investment Authority and Japan’s ORIX Corp. The aim of this collaboration is to develop and promote carbon free green molecule solutions for the pharmaceutical industry and consolidate its position in sustainability and circular economy initiatives. Granules & Greenko ZeroC will develop and promote State-of-the-art Integrated Green Pharmaceutical Zones (GPZ) with first collaboration in Kakinada, Andhra Pradesh. Granules will be building a greenfield facility spread across 100 acres in Kakinada, Andhra Pradesh. This project is estimated to cost ?2,000 crore and will produce key starting materials (KSMs), intermediates, APIs and fermentation-based products. Greenko ZeroC will supply carbon free energy and enable green hydrogen along with its various chemical derivatives that Granules can utilize to produce value added products such as DCDA, PAP, Paracetamol, Metformin, other APIs and intermediates.
Moreover, Granules envisages to also manufacture energy intensive fermentation-based products at this facility using carbon free energy through utilization of Fungible Carbon Offset instruments across their global manufacturing locations. Krishna Prasad, chairman & managing director from Granules India stated that the tie-up with Greenko enables them to minimize their carbon footprint and environmental impact from industrial operations.
The CEO at Greenko agreed that this is the perfect opportunity to transform industrial manufacturing processes to become more sustainable. It also supports India’s commitment towards decarbonization in line with global efforts to combat climate change. Greenko has been demonstrating its capability in creating groundbreaking opportunities in the green energy segment. Recently they have placed the lowest bid for an NTPC tender on energy storage solution while partnering up with Keppel Corp on setting up a 250 thousand tonne green ammonia production facility. Undoubtedly renewable energy options are pushing forward due to India's drive towards net-zero carbon emissions by 2070 alongside increasing non-fossil energy capacity by 2030.