Home / Industry / Energy /  Vedanta scales up renewable energy sources to 1GW; aims 2.5 GW by 2030

New Delhi: Vedanta Ltd is scaling up its renewable energy sourcing to 1 GW, thus accelerating transition of its operations to green energy, the company said in a statement on Thursday.

The company invited Expression of Interest (EoI) for an additional 500 MW of renewable energy, according to a release.

Vedanta has set a target to achieve 2.5 GW of renewable energy for its operations by 2030, it said.

Commenting on the development, Sunil Duggal, Vedanta’s chief safety officer and group CEO, said, “This move furthers our journey towards becoming the ESG leader in the natural resources sector. It is a crucial step in achieving our 2.5 GW of renewable power by 2030. We are looking forward to collaborate with the best in the industry, as we march ahead on our decarbonisation goals".

The company has invited reputed, experienced, and financially strong players to submit their EoI to supply hybrid renewable power for its manufacturing facilities located in Rajasthan, Chhattisgarh, and Odisha.

Vedanta had previously secured 580 MW RTC renewable energy through Serentica Renewables.

Pratik Agarwal, director, Serentica Renewables shared, “The signing of 580 MW of round-the-clock green power supply agreements with Serentica Renewables is a testament to the strong resolve by Vedanta to decarbonise its energy consumption and achieve the net zero ambitions. Vedanta is setting industry benchmarks for others to follow and is taking bold steps towards reversing climate change."

Aligned with Vedanta’s ESG vision of “Transforming for Good", the move is an additional feather in the cap in the series of actions by the company to deliver on its goal of becoming Net Zero Carbon by 2050 or sooner.

Vedanta has committed $5 billion over the next 10 years to accelerate the transition to netzero operations, the company said.

Vedanta has been at the forefront of sustainable practices and is leveraging new technologies to safeguard the environment and communities. Guided by the philosophy of ‘Zero Harm, Zero Waste, Zero Discharge’, Environmental, Social and Governance (ESG) practices are at the heart of Vedanta’s operations which are focused on delivering sustainable and responsible growth thereby creating value for all stakeholders, it added.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout