Hyundai Motor India to set up 2 renewable energy plants for Rs 38 crore

Hyundai Motor India Limited (HMIL) connected Thursday announced to acceptable up 2 renewable vigor plants successful Tamil Nadu with an concern of Rs 38 crore.

The automaker volition found a 75 megawatt (MW) star works and a 43 MW upwind powerfulness works successful the authorities with Fourth Partner Energy Limited (FPEL), to cater to the company's renewable vigor requirements.

The determination is aimed to enhancing HMIL's renewable vigor portfolio and modulation to 100 per cent renewable energy crossed its manufacturing operations by 2025. “Our collaboration with FPEL volition assistance america execute the RE100 benchmark by 2025.

By harnessing the imaginable of upwind and star power, we are not lone reducing our c footprint, but besides surviving existent to our planetary imaginativeness of 'Progress for Humanity,'” said Gopalakrishnan C. Sivaramakrishnan, Whole-time Director and Chief Manufacturing Officer, HMIL.

The automaker presently fulfils 63 per cent of its vigor requirements utilizing renewable sources (as connected June 2024), and aims to scope the 100 per cent people up of astir automakers successful the country.

RE100 is simply a planetary firm renewable vigor inaugural by the Climate Group, bringing unneurotic hundreds of ample and ambitious businesses committed to 100 per cent renewable electricity.

These facilities volition run nether a radical captive mode with a peculiar intent conveyance (SPV) formed for engineering, procurement, construction, operations and maintenance.

HMIL volition clasp 26 per cent and FPEL volition clasp 74 per cent equity involvement successful the project, which volition guarantee a 25-year proviso of renewable vigor to HMIL.

According to Vivek Subramanian, Co-founder and enforcement manager astatine Fourth Partner Energy, done this agreement, “we volition beryllium supplying HMIL with implicit 25 crore units of cleanable vigor each year, which volition assistance the institution mitigate CO2 emissions by 2 lakh tonnes annually”.

HMIL has besides installed a 10 MW rooftop star works astatine its manufacturing installation successful Chennai. The automaker registered full income of 70,078 units successful October, achieving its 3rd highest home income arsenic good arsenic 3rd highest monthly full income numbers since inception.

The home income were astatine 55,568 units and exports stood astatine 14,510 units successful October — a 2 per cent wide income maturation from the year-ago play (a full of 68,728 units).