Adani Electricity to meet 30% of Mumbai’s power demand through renewable energy – EQ Mag Pro
The company has linked these targets with financial penalty for non-achievement under its recent issuance of US Dollar denominated bonds to international investors, demonstrating commitment.
Adani Group firm Adani Electricity Mumbai Ltd, which distributes power in Mumbai, on Wednesday said it will meet 30 percent of the energy demand of the metro city through renewable sources and scale that proportion to 60 per cent by 2027.
“Adani Electricity has already taken steps to reduce Mumbai’s carbon footprint. With a major thrust on promoting renewable energy, Adani will fulfill over 30 per cent of Mumbai’s power requirements through renewable energy sources, which would further be scaled up to 60 per cent by 2027,” a company statement said.
This will offset up to 16 per cent of Mumbai’s total GHG (greenhouse gases) emissions and make Mumbai one of the World’s first Metropolis to be powered by such a significant share of renewable energy, the statement said.
The company has linked these targets with financial penalty for non-achievement under its recent issuance of US Dollar denominated Bond to international investors, demonstrating commitment.
A company spokesperson said that Adani Electricity Mumbai uses three to five per cent of the power requirement of the city using renewable energy sources.
Adani Electricity is also offering sustainable lifestyle options to its consumers, enabling them to contribute to fighting climate change and in reducing their individual carbon footprint.
A Green Tariff has been rolled out wherein consumers can opt for supply from renewable energy sources.
It is also offering a subsidy of up to 40 per cent to promote solar rooftop installations. More than 30,000 consumers have opted for these initiatives displacing equivalent of more than 26,000 tonnes of carbon dioxide annually, equivalent to planting 850,000 trees.
Adani Electricity Mumbai Ltd, part of the diversified Adani Group, is an integrated business of power generation, transmission, and retail electricity distribution.
Source: businesstoday
