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New Delhi– Hyundai Motor India Limited (HMIL) is taking a significant step toward sustainable manufacturing by planning two renewable energy facilities in Tamil Nadu. These projects will help the automaker achieve its RE100 target of using 100% renewable electricity across its operations by 2025.
In collaboration with Fourth Partner Energy Limited (FPEL), HMIL has formalized a Power Purchase and Shareholder Agreement. The agreement facilitates the development of a 75 MW solar energy plant and a 43 MW wind power facility, expected to collectively generate over 25 crore units of renewable electricity annually. These projects will help offset 2 lakh tons of CO2 emissions per year.
Strategic Investment and Renewable Energy Goals
Under the agreement, HMIL will invest ₹38 crore into a Special Purpose Vehicle (SPV) created for this initiative, holding 26% equity, while FPEL will hold the remaining 74%. The renewable energy plants will operate on a Group Captive Mode, ensuring a 25-year supply of clean energy for HMIL’s manufacturing operations in the state.
Gopalakrishnan C. Sivaramakrishnan, HMIL’s Whole-time Director & Chief Manufacturing Officer, highlighted the importance of this move:
“This initiative aligns with Hyundai’s vision of advancing sustainability through innovation. Harnessing wind and solar power will significantly reduce our environmental footprint and set an industry benchmark in renewable energy adoption.”
Fourth Partner Energy’s Role
Vivek Subramanian, Executive Director at FPEL, expressed his enthusiasm for the collaboration:
“We are delighted to contribute to Hyundai’s renewable energy journey. This partnership demonstrates how corporations can lead the way in creating a greener future by integrating clean energy into their operations.”
Hyundai’s Existing Sustainability Efforts
HMIL, which currently sources 63% of its energy from renewable sources, is progressing rapidly toward its 100% target. Its sustainability initiatives include:
– Operating a 10 MW rooftop solar plant at its Chennai facility.
– Transitioning entirely to LED lighting across plants, offices, and dealerships.
– Incorporating systems like waste heat recovery and fuel-efficient coatings to enhance energy efficiency.
This collaboration underlines HMIL’s commitment to environmental stewardship while showcasing its dedication to adopting renewable energy solutions, reinforcing its leadership in sustainable manufacturing within the automotive industry.
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