What's Happening?
Hinduja Renewables Energy Private Limited (HREPL) has signed a long-term solar Power Purchase Agreement (PPA) with LG Electronics India to supply solar energy to its Pune manufacturing facility. The agreement involves a 9.80 MWp solar PPA, expected to generate
1.61 crore units of renewable power annually, offsetting approximately 0.31 million metric tonnes of CO2e over its lifetime. This initiative marks LG Electronics India's first captive renewable energy project in the country, aligning with its global sustainability commitments under the RE100 initiative. The power will be sourced from HREPL's solar plant in Nanded, Maharashtra, meeting 40% of the Pune facility's energy needs.
Why It's Important?
This partnership represents a significant step towards industrial decarbonization in India, showcasing how global manufacturers and Indian renewable energy companies can collaborate to achieve sustainability goals. By integrating clean energy into its operations, LG Electronics India not only reduces its carbon footprint but also enhances its global competitiveness. The agreement supports India's net-zero ambitions for 2070 and demonstrates the growing demand for reliable, round-the-clock renewable energy solutions in the industrial sector.
What's Next?
The solar PPA is set to commence in the second quarter of 2026 and will last for 25 years. HREPL plans to expand its renewable energy capacity, targeting 1 GW of commercial and industrial capacity additions annually. The company is also developing over 250 MWp across three solar parks in Maharashtra and aims to add over 1 GW capacity in various Indian states, including Uttar Pradesh, Rajasthan, and Karnataka, in the next 14-16 months.
