Hyundai India Accelerates Toward 100% Renewable Energy with New Plants

Hyundai Motor India Limited is expanding its renewable energy efforts by establishing two plants in Tamil Nadu. This move, in collaboration with Fourth Partner Energy, aims to meet the RE100 benchmark by 2025. The initiative involves a significant investment and emphasizes Hyundai's commitment to sustainability in the automotive sector.

In a significant step towards sustainability, Hyundai Motor India Limited (HMIL) has announced plans to establish two renewable energy plants in Tamil Nadu. This move aligns with the company's goal of achieving 100% renewable electricity by 2025 under the RE100 initiative, driven by the Climate Group.

HMIL has inked a Power Purchase and Shareholder Agreement with Fourth Partner Energy Limited (FPEL) to set up a 75 MW solar and 43 MW wind power plant. The energy will be produced under a Group Captive Mode, ensuring a steady 25-year renewable energy supply, propelling HMIL nearer to its 2025 target.

With an investment of Rs 38 crore, the project comprises a Special Purpose Vehicle (SPV) in which HMIL owns a 26% equity stake, while FPEL holds 74%. HMIL currently sources 63% of its energy from renewables and aims to lead in the sector's transition. This collaboration with FPEL is expected to provide over 25 crore units of clean energy annually, aiding in reducing CO2 emissions by 2 lakh tons each year.

Gopalakrishnan Chathapuram Sivaramakrishnan, HMIL's Whole-time Director, emphasized the partnership's significance in promoting sustainable energy practices. Meanwhile, HMIL has been advancing energy-saving innovations, including a 10 MW rooftop solar plant and a switch to LED lighting across all facilities since 2017.

The automaker is also leveraging waste heat recovery systems and green power procurement, establishing itself as a frontrunner in renewable energy management solutions.

(With inputs from agencies.)