The Times Group, which owns newspapers such as The Times of India and The Economic Times, has put energy management at the centre of its sustainability efforts.
The company is aiming to reduce its environmental impact and protect its bottom line from rising energy costs using a combination of energy-saving practices, renewable energy investments, and technological upgrades, Muralidharan told participants at WAN-IFRA’s Indian Printers Summit.
“Energy management has become a critical part of our corporate strategy, not only because of the environmental benefits but also because of the significant cost savings it can deliver,” he said.
24% reduction in energy consumption, 18% cut in power costs
Despite rising energy costs, the Times Group has managed to reduce its energy consumption by 24 percent and cut its energy costs by 18 percent, according to Muralidharan.
“This is the result of our efforts in reducing waste and increasing the use of renewable energy,” he said.
The company also enhanced its power factor correction systems to improve its energy efficiency. By using static variable generators for power factor correction, the Times Group has achieved a dynamic and efficient energy management system, he added.
“Climate action is not just a responsibility; it’s an opportunity to improve operational efficiency, enhance brand value, and future-proof our business.
“Our goal of achieving 100 percent renewable energy is an important milestone, but it’s only one part of our broader strategy for sustainability,” he said.
Bridging the energy demand-supply gap
In 2013, there was a 4.5 percent gap between India’s energy demand and the supply. By 2023, that gap had been reduced to just 0.4 percent.
“With growing economic activity, the energy demand is expected to double by 2030, leading to supply-demand imbalance,” Muralidharan said.
“Energy costs are likely to increase due to the widening demand-supply gap. Diesel and power tariffs will rise, putting even more pressure on businesses,” he added.
For the Times Group, energy accounts for 30 percent of its fixed costs (excluding material costs), and this percentage is expected to increase to 42 percent in the coming years.
To address this, the group is focusing on energy management to not only reduce consumption but also optimise energy efficiency in its operations.
Strategies for reducing energy consumption
As part of its energy management strategy, the group is following two main approaches:
Adapting to a warmer world: Rising ambient temperatures will affect the efficiency of equipment. The company has focused on improving the energy efficiency of its air compressors, HVAC systems, and other critical machinery. “A 3-degree increase in temperature can reduce the efficiency of compressors by 1.5 percent,” Muralidharan said.
Mitigating climate change through transition: This strategy involves increasing the share of renewable energy in the company’s energy mix and utilising green technologies. Currently, the company’s energy mix includes power from conventional sources. Moving forward, the Times Group plans to incorporate a greater percentage of renewable energy sources into its operations, including wind, solar, and other clean energy alternatives.
An energy management cell to oversee energy consumption
To implement their energy strategy, the group established a management cell, which oversees energy consumption across all the company’s locations. The cross-functional team has four distinct wings:
- Projects and tech support: Focused on implementing energy-efficient technologies and retrofitting existing equipment.
- Audits: Regular audits (internal and external) are conducted to ensure compliance with energy conservation standards.
- Data analytics: This wing tracks energy consumption in real time, providing insights to the leadership team on areas that require attention and improvement.
- Statutory compliance: This team ensures that the company meets statutory requirements. It also benchmarks energy performance against industry standards.
Real-time data analytics is a key component of the group’s energy management system.
“Having accurate, high-frequency data from our plants allows us to identify problems and take corrective actions quickly,” Muralidharan said.
The company has installed energy meters at granular levels across all its plants, capturing data from production units to ancillary functions such as administration and sales.
The data analytics wing monitors the energy usage and forecasts efficiency trends to take further steps to reduce consumption, he said. For instance, by tracking the energy performance of HVAC systems or compressors, the exact area where energy is being wasted can be identified.
“The real-time data allows us to slice and dice the data across different plants, making decision-making faster and effective,” he said. This data is shared with top management through dashboards, helping them to take real-time decisions.
Automation helped reduce energy wastage
One of the company’s key findings was that variable load (such as presses and compressors) also contained a significant fixed load component. This meant that even when these machines weren’t actively in use, they were still consuming energy.
By analysing this data, the Times Group was able to adjust schedules and implement automation to reduce unnecessary energy consumption. To reduce energy wastage, the company automated its press and compressor systems to ensure they run only when needed.
“We found that the press, compressor and cooling system consume around 11 percent, 32 percent, and 26 percent of its energy as fixed consumption (in idle state), respectively. This is essentially waste, as these machines are consuming power without producing output,” Muralidharan said.
Boosting renewable sources in the energy mix
In line with its sustainability goals, the Times Group has also been focusing on renewable energy. Since 2016, the company has increased its share in renewable energy, and it currently stands at 45 percent.
“The journey has not been without its challenges. Renewable energy adoption is complex, especially with the varying regulations in different states,” Muralidharan said.
However, through investments in open access and rooftop solar projects, the Group has made significant progress. The company has invested Rs 3.75 crores (approximately $442,000 or 418,600 euros) to transition to renewable energy and is targeting 100 percent renewable energy by 2027.
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