Dimexon's diamond manufacturing site in Coimbatore, southern India, has switched to solar power, reducing its reliance on the national grid by 75%. This will equate to an annual saving of ~1,400 tCO2e, which is the equivalent of taking 333 cars off the road for a year.
The solar power project is part of our wider ESG commitments, which include a pledge to be carbon neutral by 2030. The Coimbatore site is responsible for 85% of the company’s total carbon emissions, which makes this switch a significant step forward on our ESG journey. To further reduce emissions at Coimbatore, we swapped out diesel vehicles for electric vehicles in 2023.
To help us make the switch at our Coimbatore site, we have partnered with Shakthi Power to tap into an alternative renewable power grid. Shakthi Power owns solar parks in India that provide energy for multiple businesses, allowing them to reduce reliance on the majority-thermal-powered Indian national grid.
Due to the offshore nature of the partnership, there was no major disruption to the Coimbatore factory as solar panels did not have to be installed on site. It is also a dual power source, with solar power backed up by the national grid to ensure our production is not impacted by any disruptions to the supply of solar power. The amount of solar energy available via Shakthi Power will be reliant on the weather, as well as wider demand on its alternative renewable grid.
The move to solar power at Coimbatore has been 18 months in the making. The official switch took place on May 1, 2024. In the first two months, Dimexon was able to reduce its reliance on the national grid by an average of 75%. We hope to increase this in the coming months to 85%.
The future goal is for the entire Dimexon business to be 100% powered by renewable energy by 2030. Our office in Antwerp’s Diamond District has already made the switch to renewable energy.
“As part of our overall ESG journey, reducing our carbon emissions is a core focus area," says Dimexon Integrated Business Services CEO Vinay Kothari. "When evaluating Scope 1 and Scope 2 emissions – those for which we are directly responsible – we identified that our Coimbatore site was responsible for 85% of our emissions. Therefore, the switch to solar power will significantly reduce our overall carbon footprint.
“This is a major leap forward for Dimexon, and one that we will build on as we take more steps to reduce our impact on the environment on our journey to carbon neutrality by 2030. Our Antwerp office switched to renewable energy in 2023, and we are now in negotiations to find a solution for our Mumbai offices. We will then look to roll this out to our sites in Asia and the Middle East.”
In 2022, Dimexon started publicly reporting on its ESG journey. The latest report, released in 2023, is titled Impact Through Provenance, and can be downloaded here.
