Hyundai's Big Step Towards 100% Renewable Energy in Tamil Nadu
Hyundai's Renewable Energy Initiative in Tamil Nadu
Hyundai Motor India Limited (HMIL) is taking a significant step towards renewable energy by setting up two new plants in Tamil Nadu. This move is part of Hyundai's goal to achieve the RE100 benchmark by 2025, which means using 100% renewable electricity. The RE100 initiative is a global effort led by the Climate Group.
Partnership with Fourth Partner Energy
To reach this goal, Hyundai has partnered with Fourth Partner Energy Limited (FPEL). They signed an agreement at Hyundai's Chennai plant to build a 75 MW solar plant and a 43 MW wind power plant. This project will cost Rs 38 crore and will be structured as a Special Purpose Vehicle (SPV), with Hyundai holding a 26% stake and FPEL holding 74%.
Long-term Renewable Energy Supply
The agreement ensures a 25-year supply of renewable energy, helping Hyundai move closer to its 2025 target. Currently, 63% of Hyundai's energy needs are met through renewable sources. The company aims to lead the Indian automotive sector in adopting renewable energy.
Statements from Leaders
Gopalakrishnan Chathapuram Sivaramakrishnan, Hyundai's Chief Manufacturing Officer, stated, "This partnership is a pivotal milestone in our journey towards sustainability." Vivek Subramanian, Co-Founder of FPEL, added, "We will supply Hyundai with over 25 crore units of clean energy annually, reducing CO2 emissions by 2 lakh tons each year."
Hyundai's Ongoing Efforts
Hyundai has been proactive in energy management, operating a 10 MW rooftop solar plant and using 100% LED lighting since 2017. They also use waste heat recovery systems and procure green power from the Indian Energy Exchange.
Doubts Revealed
Hyundai Motor India Limited
Hyundai Motor India Limited is a company that makes cars. It is part of a bigger company called Hyundai, which is from South Korea.
Renewable Energy
Renewable energy comes from natural sources that can be used again and again, like the sun and wind. It is better for the environment because it doesn't run out and doesn't cause pollution.
Tamil Nadu
Tamil Nadu is a state in the southern part of India. It is known for its rich culture, temples, and industries.
RE100
RE100 is a global initiative where companies commit to using 100% renewable energy. It means they want all their energy to come from sources like solar and wind.
Fourth Partner Energy
Fourth Partner Energy is a company that helps other companies use renewable energy. They work on projects like building solar and wind power plants.
MW
MW stands for megawatt, which is a unit to measure power. One megawatt is equal to one million watts, and it shows how much energy a power plant can produce.
Rs 38 crore
Rs 38 crore is a way to say 380 million rupees, which is a lot of money. Rupees are the currency used in India.
LED lighting
LED lighting uses special lights that are very efficient and use less electricity. They are better for the environment and help save energy.
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