Vibrant Energy, Saint-Gobain India Sign Agreement For Renewable Energy Supply
By 2025, Saint-Gobain India will have 65 per cent of its electricity consumption coming from renewables and rainwater harvesting, development of urban forests and bio-diversity actions continue to remain key focus areas under climate actions
Vibrant Energy and Saint-Gobain India have entered a long-term Power Purchase Agreement (PPA) to deliver round-the-clock wind-solar hybrid energy to Saint-Gobain’s facilities in India.
As a part of the PPA, Vibrant Energy a portfolio company of Macquarie Asset Management’s Green Investment Group (MAM-GIG)will set up a 75 MWac/100 MWdcInterstate Transmission System (ISTS) connected wind-solar hybrid project in Madhya Pradesh. With the addition of this project, Saint-Gobain will achieve a renewable energy footprint of 65 per cent across its facilities in India by the end of 2025.
Srinivasan Viswanathan, CEO of Vibrant Energy, said, “Vibrant Energy is excited to support Saint-Gobain in its efforts to be carbon neutral and be a strong partner in achieving Saint-Gobain’s 100 per cent sustainability goals. Saint-Gobain’s proactive green initiatives will encourage other industry players to accelerate their net-zero plans.”
Speaking on the partnership, B Santhanam, CEO of Asia Pacific and India Region, Chairman at Saint-Gobain India, said, “The PPA is a significant step forward to not only meet the country’s 500GW renewable energy target but also increase the use of renewable energy sources in the manufacturing sector. Our commitment towards sustainability is at the core of our business strategy, and this partnership is a significant step towards achieving our goal of 100 per cent renewable energy by 2030.”
Aligning with India’s goals for a Sustainable Economy, Saint-Gobain India has focused its expansion and development goals in line with sustainable and renewable energy targets.
Through various initiatives like shifting of high carbon fossil fuels to natural gas, migration of solid fuels to biomass, waste heat recovery and reuse and circularity actions, the Group in India has attained its mid-term goals set for 2025 much ahead of time.
By the end of 2023, renewable power will replace nearly 170 MIL units of electricity required. By 2025, Saint-Gobain India will have 65 per cent of its electricity consumption coming from renewables. Rainwater harvesting, development of urban forests and bio-diversity actions continue to remain key focus areas under climate actions, according to the statement.