Vedanta expands renewable energy sources to 1 GW; targets 2.5 GW by 2030

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

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

Vedanta has set a goal of reaching 2.5 GW of renewable energy for its operations by 2030, he said.

Commenting on the development, Sunil Duggal, Vedanta Chief Security Officer and Group CEO, said: “This decision advances our journey to become the ESG leader in the natural resources sector. This is a crucial step towards reaching our 2.5 GW of renewable energy by 2030. We look forward to collaborating with the best in the industry as we make progress towards our decarbonization goals.”

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

Vedanta previously obtained 580 MW of RTC renewable energy through Serentica Renewables.

Pratik Agarwal, Director of Serentica Renewables, said: “The signing of 580MW of 24-hour green energy supply agreements with Serentica Renewables demonstrates Vedanta’s strong commitment to decarbonizing its energy consumption and achieving net zero ambitions. Vedanta is setting benchmarks for the industry to follow and taking bold action to reverse climate change.”

In line with Vedanta’s ESG vision of “Transforming for Good”, this decision is an additional feather in the company’s series of actions to achieve its goal of becoming Net Zero Carbon by 2050 or earlier.

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 leverages new technologies to protect the environment and communities. Guided by the “Zero Harm, Zero Waste, Zero Discharge” philosophy, environmental, social and governance (ESG) practices are at the heart of Vedanta’s operations, which aim to ensure sustainable and responsible growth, thereby creating value for all stakeholders, he added. .

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