Chennai: In a move towards sustainability, Hyundai Motor India Limited (HMIL) announced plans to set up two renewable energy plants in Tamil Nadu. This initiative will help the automaker achieve its RE100 target by 2025, a global benchmark for 100% renewable electricity adoption.
HMIL signed a Power Purchase and Shareholder Agreement with Fourth Partner Energy Limited (FPEL) at its Chennai Manufacturing Plant. The project includes a 75 MW solar plant and a 43 MW wind power plant, set to supply 25 crore units of clean energy annually.
“This partnership reaffirms our commitment to sustainability,” said Mr. Gopalakrishnan Chathapuram Sivaramakrishnan, Whole-time Director & Chief Manufacturing Officer of HMIL. “Harnessing solar and wind power aligns with our global vision of ‘Progress for Humanity.’”
Also read | Tata Power Partners with ADB to Boost India’s Clean Energy Future
The plants, built under a Group Captive Mode, will see HMIL invest ₹38 crore, holding a 26% equity stake, while FPEL retains 74%. The project is expected to reduce CO2 emissions by 2 lakh tons annually.
FPEL’s Executive Director, Mr. Vivek Subramanian, highlighted the significance of corporate contributions to renewable energy, calling the partnership a “precedent for responsible energy consumption.”
HMIL already sources 63% of its energy needs from renewable sources and employs innovative energy management practices, including LED lighting and waste heat recovery systems. This latest initiative underscores HMIL’s leadership in environmental stewardship and sustainable manufacturing.
This development is a step forward in India’s renewable energy journey, with corporates like Hyundai driving the shift to a greener future.
