CEAT invests Rs. 476 mn. in 2.4 MW solar roof panel project in Kelaniya

Sri Lanka’s top tyre maker CEAT Kelani Holdings has completed an investment of Rs 475.97 million in a High Tension (HT) metering roof-top photovoltaic panel solar power plant as part of the company’s efforts to reduce the carbon footprint of its manufacturing operations at its Kelaniya complex, the company announced.

“The 2.4 MW solar power plant installed by Regen Renewables (Pvt) Ltd. on the factory roof will produce 59.61 GWh in its operational period, offsetting about 21 per cent of CEAT’s consumption of electricity from the national grid and contributing to an omission of 42,326 Tons of CO₂ emissions,” a company news release said.

The 295,200 square foot solar power plant became operational in December 2023 and will also reduce CEAT’s electricity bill, which currently accounts for about 13 per cent of the company’s cost of production, it said.

CEAT Kelani’s investment covered the cost of solar panels, inverters, walkways, a cleaning system, and the Ceylon Electricity Board (CEB) grid connection.

“As the manufacturer of nearly half of Sri Lanka’s requirements of pneumatic tyres, CEAT Kelani is a systemically-important contributor to the national economy, but our commitment goes deeper to encompass the community and the environment,” the company’s Managing Director Mr Ravi Dadlani said. “This investment in renewable energy is just one example of our focus on sustainability.”

One of the most successful India – Sri Lanka joint ventures in the manufacturing sector, the CEAT Kelani joint venture’s investment in Sri Lanka over the past 10 years exceeds Rs 8.5 billion.

The supplier of the solar power plant Regen Renewables represents SUNTECH – one of the world’s largest and most technologically advanced Tier-1 Solar panel manufacturers – and the inverter manufacturer Siemens-KACO in Sri Lanka. Regen has been in the rooftop solar business for more than a decade and has successfully installed and commissioned over 20 MW of facilities which is equivalent to a market share of almost 10 per cent in the rooftop industry.

The largest domestic manufacturer of cross-ply and radial tyres in Sri Lanka, CEAT Kelani’s manufacturing operations encompass pneumatic tyres in the radial (passenger cars, vans and SUVs), commercial (Bias-ply and radial), motorcycle, three-wheeler and agricultural vehicle segments. The CEAT brand originated in Italy and is backed by German manufacturing technology and extensive research and testing facilities in India and Europe.

CEAT Kelani Holdings exports about 20 per cent of its production to 16 countries and plays a significant role in helping the national economy conserve foreign exchange by reducing dependence on imported tyres, the release said.