New Delhi, Oct. 6 -- At least half a dozen auto and component companies are investing in captive renewable energy projects that give them direct access to green power, seeking to lower electricity costs while increasing the use of clean energy to meet their decarbonisation targets.

Tata Motors Ltd, Mahindra & Mahindra's Swaraj Tractors, Escorts Kubota, Maruti Suzuki, Samvardhana Motherson and SPR Auto Technologies are among companies developing, commissioning or investing in renewable energy projects linked to their manufacturing operations, according to their filings and announcements in the current financial year.

The shift towards captive and group-captive renewable power reflects a dual objective: reducing companies' exposure to ele...