Hyundai Motor India Limited (HMIL) has announced plans to set up two renewable energy plants in Tamil Nadu as part of its strategy to achieve 100% renewable electricity in its operations by 2025. A Power Purchase and Shareholder Agreement has been signed with Fourth Partner Energy Limited (FPEL), marking a notable step towards HMIL’s RE100 commitment.
The project will involve the establishment of a 75 MW solar plant and a 43 MW wind power plant in Tamil Nadu. HMIL will invest INR 38 crore in these facilities, which will operate under a Group Captive Model. The plants are expected to generate over 25 crore units of clean energy annually, reducing carbon emissions by 2 lakh tons per year. A Special Purpose Vehicle (SPV) will oversee the project, with HMIL holding a 26% equity stake and FPEL the remaining 74%.
Gopalakrishnan Chathapuram Sivaramakrishnan, Chief Manufacturing Officer, HMIL, emphasised that the move aligns with Hyundai’s global vision of “Progress for Humanity” by significantly reducing its carbon footprint. Vivek Subramanian, Executive Director of FPEL, highlighted the importance of corporate partnerships in accelerating India’s renewable energy goals and reaffirmed FPEL’s role in providing integrated solutions across solar, wind, and battery storage.
HMIL has already achieved 63% of its energy needs through renewable sources as of June 2024 and continues to implement innovative energy management solutions. Initiatives such as a 10 MW rooftop solar plant, waste heat recovery systems, and the use of LED lighting have been instrumental in reducing energy consumption and emissions.
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