Hyundai Motor India Limited (HMIL) is advancing its ambitious renewable energy goals by setting up two renewable energy plants in Tamil Nadu, aiming to transition to 100% renewable energy by 2025. This move is part of the company’s commitment to the global RE100 initiative, which encourages businesses to use 100% renewable electricity.
Hyundai will invest ₹38 crore in a project to set up a 75 MW solar plant and a 43 MW wind energy plant in Tamil Nadu, with FPEL providing over 25 crore units of clean energy annually under a 25-year agreement. This partnership will help Hyundai reduce CO2 emissions by 2 lakh tons each year.
As of June 2024, Hyundai has already been fulfilling 63% of its energy needs through renewable sources. This initiative will further drive the company’s efforts to reach its target by 2025. Hyundai’s 26% stake in an SPV managing renewable plants demonstrates its commitment to sustainability, reducing carbon footprints, and supporting India’s renewable energy goals.
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