Sami-Sabinsa Group, a nutraceutical and cosmeceutical ingredient supplier, has entered into a long-term mutual agreement with the Singapore-based O2 Renewable Energy to purchase 150 mega units of renewable power over a 25-year period. The investment is Sabinsa’s contribution toward India’s transition to more sustainable energy.
 
Sami-Sabinsa will adopt captive solar energy for all of its manufacturing plants in Karnataka, India. The company is collaborating to set up a 3.6 megawatt DC solar project at Bellary District in the state of Karnataka.
 
The project will cost an estimated $750,000 per megawatt of solar capacity. The company will subscribe to a minimum of 26% of the securities in the project, and has signed a security subscription and shareholder’s agreement with O2 Energy and its Indian subsidiary.
 
“Our investment in solar energy with a focus on adopting high-quality and environmentally friendly solutions will help us do our part in combating climate change and reducing the carbon footprint,” said Dr. Muhammed Majeed, founder and chairman of Sami-Sabinsa Group.
 
The project is expected to be commissioned by October of this year, and will supply 6.35 million units of clean energy annually to the company’s five manufacturing facilities in Karnataka.
 
“The effort will contribute to Sami-Sabinsa’s goal of anchoring sustainability in every aspect of its business and preserving natural resources,” said Dr. Anju Majeed, director, Sami-Sabinsa Group.  “Furthermore, the initiative will create jobs for the local communities. This step will also help us improve energy efficiency at our manufacturing facilities while providing savings on energy costs.”