|
PRNewswire
Mumbai (Maharashtra) [India], April 1: Hinduja Renewables Energy Private Limited (HREPL), part of the Hinduja Group, today announced a long-term solar Power Purchase Agreement (PPA) with LG Electronics India (LGE India) to supply solar energy to one of its manufacturing operations, supporting the company's transition towards sustainable manufacturing. - Signed a 9.80 MWp solar PPA to supply clean energy to LGE India's Pune plant- Project to generate 1.61 crore units clean energy annually- To offset ~0.31 million metric tonnes of COe over its lifetime Under the agreement, HREPL has signed a 9.80 MWp solar PPA to supply clean energy to LGE India's Pune manufacturing facility. The project will generate 1.61 crore units of renewable power annually, helping offset approximately 0.31 million metric tonnes of COe over the project lifetime. The power will be sourced from HREPL's 27.7 MWp solar plant in Nanded, Maharashtra, enabling LGE India to meet 40% of its Pune facility's energy requirements through renewable sources. Commenting on the partnership, Mr. Deepak Thakur, MD & CEO, HREPL, said, "This partnership marks a significant step in advancing industrial decarbonisation in India. As demand for reliable, round-the-clock renewable energy accelerates, such collaborations demonstrate how global manufacturers and Indian renewable energy companies can come together to deliver meaningful impact. Through this partnership, we are enabling the integration of clean energy into manufacturing, supporting sustainability goals while enhancing operational efficiency. The Hinduja Group entered the renewable energy sector with a long-term commitment to be an integral part of India's vision to be a leader in sustainability, and this continues to be a key focus area for us. HREPL remains committed to delivering scalable green energy solutions that help organisations reduce their carbon footprint and contribute to India's energy transition." "This project represents a defining milestone for LGE India, marking our first captive renewable energy project in the country and reinforcing our decisive shift towards sustainable manufacturing," said Mr. Hong Ju Jeon, MD and Chief Sales & Marketing Officer, LGE India . "It strongly aligns with LG's global sustainability commitments, including our transition towards achieving 100% renewable energy under the RE100 initiative. Beyond powering our operations, these collaborations also strengthen our contribution to meeting India's net-zero ambitions for 2070 and accelerate our journey towards responsible manufacturing. By integrating clean energy with our production ecosystem, we are not only reducing our carbon footprint, but also enhancing the global competitiveness of LGE India's products." The agreement is for a period of 25 years and is expected to commence in the second quarter of CY2026. It also marks LGE India's first captive renewable energy project in India and its first strategic investment in a power generation special purpose vehicle (SPV). HREPL currently operates a diversified 3 GW renewable energy portfolio across commercial & industrial (C&I) and utility segments in India and is targeting 1 GW of C&I capacity additions annually to address the growing demand for round-the-clock renewable energy. In Maharashtra, the company has over 250 MWp under development across three solar parks, and is further expanding with plans to add over 1 GW capacity in the next 14-16 months across Uttar Pradesh, Rajasthan, Karnataka, Tamil Nadu, Haryana, and Uttarakhand. About Hinduja Renewables Energy Private Limited Hinduja Renewables Energy Private Limited (HREPL), part of the Hinduja Group, has emerged as one of India's leading Independent Power Producers since its founding in 2016, with a diversified 3 GWp portfolio spanning utility-scale, commercial, industrial, and rooftop projects. Positioned as the country's preferred provider of Round-the-Clock renewable energy, HREPL enables corporations to offset up to 100% of their power needs through long-term PPAs backed by solar, wind, and battery storage solutions. About Hinduja Group The Hinduja Group is a 111-year-old transnational conglomerate with over 250,000 employees across 100 countries. Founded in 1914 by Late Shri Parmanand Deepchand Hinduja, the Group has evolved into one of India's most respected diversified business houses, with a leadership in automotive and mobility, banking and financial services, IT and digital solutions, energy and healthcare. Through its enterprises, the Group has contributed to India's industrial evolution and economic progress while building strong global partnerships and market presence worldwide. Anchored in robust governance, disciplined risk management and long-term value creation, the Hinduja Group is guided by its enduring credo, "My Dharma is to work so that I can give," reflecting a legacy that combines global enterprise with nation-building and community commitment. Learn more about Hinduja Group on https://www.hindujagroup.com/ Instagram and Facebook: @HindujaGroup Logo: https://mma.prnewswire.com/media/2946967/Hinduja_Renewables_Logo.jpg (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
|
