UltraTech Cement

Companies are switching to captive renewable energy to cut costs and minimize reliance on the national grid.

Ultratech Cement now operates approximately 2 gigawatts of renewable capacity alongside JSW Steel and Teta Steel.

Electricity can account for up to 40% of operating costs in secondary steel making renewable power at 4.5 rupees per unit a compelling alternative to grid tariffs ranging near 7 rupees.

Maruti Suzuki aims to raise renewable usage from nearly 23% in 2026 to 85% by 2031 through an investment of Rs 1,000 crore.

Rather, we focus on supporting clients in the credible transaction plans.

For example, we supported Ultratech Cement in India in developing their sustainability-linked finance framework with their emission target, which is aligned with Paris Agreement.

This demonstrates how banks can help clients translate transition ambition into measurable and financeable commitment.

SMBC is the first Japanese bank to launch a transition finance playbook in 2023, and we keep updating this playbook every year.