State Bank of India (SBI), the country’s largest commercial Bank, on the occasion of World Earth Day further solidified its commitment to become carbon neutral over time. The Bank has installed 151 solar rooftop sites which will generate 6.23 megawatt (MW) energy. These sites are spread throughout the country.
This will be in addition to the already functional solar capacity of 3 MW and 15 MW through wind energy. The energy generated through these renewable sources are solely for captive use by Bank’s various offices and branches across the country, making them free of any carbon emission.
For Earth Day 2018, SBI Chairman, Shri Rajnish Kumar, inaugurates solar panels at 151 branches on 21st April, 2018. SBI powers up their effort in being an environment friendly bank. Read more about the initiative here: https://t.co/sCfULT053Y
#EarthDay #SBI #SBICSR @rkumar1958 pic.twitter.com/Jc7hfgESdI
— State Bank of India (@TheOfficialSBI) April 21, 2018
To promote environment and energy conservation, SBI had already installed 10 windmills of 1.5 MW capacity each in Maharashtra (6 Nos.), Gujarat (1No.) and Tamil Nadu (3 Nos.) which are functional since 2010. With increasing adoption of renewable energy source, SBI estimates to save electricity cost by nearly Rs. 30.00crore annually.
Only through installation of windmills, SBI has saved more than Rs 125 crores in last few years SBI has been making significant strides in the renewable space. Recently, the Bank declared its intent to transit to electric vehicles in major cities by the year 2030. The Bank has put up a road map to become carbon neutral in the long run.
Rajnish Kumar, Chairman, SBI said:
“Bank’s support to environment protection is unequivocal. With various climate action plans, we reaffirm our commitment of being a responsible corporate aligned with Sustainable business practices. With these 151 solar installations, Bank is determined to spread further its footprint in the renewable energy space.”
Source: Press Release by State Bank of India (SBI). Photo Credit: © State Bank of India via Facebook.