ESG21 Nov 2024, 11:36 pm
Hyundai Motor India to Setup 2 Renewable Energy Plants in Tamil Nadu
AI Summary
Hyundai Motor India Limited (HMIL) has signed an agreement with Fourth Partner Energy Limited (FPEL) to setup 2 renewable energy plants in Tamil Nadu. The agreement is a significant step towards HMIL's RE100 target by 2025. The plants, a 75 MW Solar Plant and a 43 MW Wind Power Plant, will operate under a Group Captive Mode and will cater to HMIL's Renewable Energy requirements. HMIL currently fulfils 63% of its energy requirements using renewable sources and aims to reach the 100% mark ahead of most automakers in the country.
Key Highlights
- Hyundai Motor India Limited (HMIL) to setup 2 renewable energy plants in Tamil Nadu
- Agreement signed with Fourth Partner Energy Limited (FPEL) to enhance HMIL's renewable energy portfolio
- 75 MW Solar Plant and a 43 MW Wind Power Plant to be established in Tamil Nadu
- HMIL aims to reach 100% renewable electricity across its manufacturing operations by 2025
- HMIL currently fulfils 63% of its energy requirements using renewable sources