The 20-year PPA will begin delivery in 2024 and bring the renewable electricity share in India to 65% in 2025.
17 May 2023 | 4858 Views | By Autocar Professional Bureau
Saint-Gobain has signed a Power Purchase Agreement (PPA) in India with Vibrant Energy – a portfolio company of Macquarie Asset Management's Green Investment Group (MAM-GIG) – to provide wind-solar electricity to 6 local Saint-Gobain sites.
The 20-year PPA will begin delivery in 2024 and bring the renewable electricity share in ...
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Saint-Gobain has signed a Power Purchase Agreement (PPA) in India with Vibrant Energy – a portfolio company of Macquarie Asset Management's Green Investment Group (MAM-GIG) – to provide wind-solar electricity to 6 local Saint-Gobain sites.
The 20-year PPA will begin delivery in 2024 and bring the renewable electricity share in India to 65% in 2025.
Under the agreement, Vibrant Energy will provide Saint-Gobain with 189 GWh of renewable electricity (solar and wind) per year, thus reducing Saint-Gobain’s CO2 emissions in India by around 120,000 tons per year. Through wide-ranging initiatives such as the replacement of fossil fuels with biomass, waste heat recovery and reuse, and circularity actions, Saint-Gobain is well on its way to achieving 100% renewable electricity in India by 2030.
Speaking on the partnership, B. Santhanam, CEO – 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% renewable energy by 2030.”
This agreement, in addition to those previously signed by the Group in North America, Spain, and Poland, is part of the Group's overall trajectory to achieve carbon neutrality by 2050.