Serentica Renewables begins green power supply to Hindustan Zinc from its 180 MW solar project – EQ

• Progressing on its journey of net-zero emissions, Hindustan Zinc has initiated power purchase from Serentica’s 180 MW solar project

• The 180 MW solar park at Bikaner, Rajasthan marks Serentica’s first project commissioning milestone

• The company signed a power delivery agreement in FY2022-23 for sourcing 450 MW that will help mitigate 2.7 mn MT of carbon emissions

• The first phase will see Serentica supplying RE power to the world’s largest integrated zinc-lead smelter, India’s first zinc smelter and the world’s largest underground zinc mining operations

New Delhi : Hindustan Zinc, India’s largest and the world’s second-largest integrated zinc producer, announced the commencement of the first phase of renewable energy integration from Serentica Renewables, a leading C&I focused renewable energy developer in India. The renewable energy is being utilized for Hindustan Zinc’s operational business units in Rajasthan. Recognized as the world’s most sustainable metals & mining company as per S&P Global Corporate Sustainability Assessment 2023, this initiative marks yet another step towards decarbonizing its operations.

Hindustan Zinc has entered into Power Delivery Agreements (PDAs) with Serentica for the supply of 450 MW of round-the-clock (RE-RTC) power, ensuring operational reliability and sustainability across its key business units. As part of the pioneering agreement between both parties, Serentica has started supplying renewable energy Hindustan Zinc from its 180 MW solar project. This is a first-of-its-kind initiative within the Vedanta group. By integrating renewable power from Serentica, Hindustan Zinc is among the few zinc producers in the world to move towards green energy. While Hindustan Zinc has existing captive solar power capacity of 40.70 MW of solar power and depends on conventional fuel sources for the rest of its power requirement, this renewable power from Serentica will increase the quantum of renewables in the company’s overall energy mix. This marks a significant milestone in its ongoing commitment to sustainability and clean energy integration. This initiative aims to annually reduce approximately 0.45 million tons of CO2 emissions.

Serentica’s Bikaner power park is an integral part of its Round-The-Clock strategy, involving multi-location solar and wind energy installations. Spanning over 1,200 acres, this 180 MW solar park, will ensure a consistent and reliable green power supply to Hindustan Zinc’s operations. Cumulatively, the project will reduce around 2.7 million tons of CO2 emissions annually, significantly contributing to India’s sustainability agenda.

Mr. Arun Misra, CEO of Hindustan Zinc and Executive Director of Vedanta, commented, “At Hindustan Zinc, sustainability is the guiding principle shaping every business decision. We remain proactive in investing in our climate action initiatives, progressing on our journey to net zero by 2050 or sooner. This project will not only reduce our dependency on conventional fuels and minimize our total environmental footprint but also aid our transformation towards decarbonizing our operations, paving the way for a fully sustainable future.”

Commenting on the project milestone, Akshay Hiranandani, CEO of Serentica Renewables, said, “The successful and ahead-of-schedule commissioning of Phase 1 (solar) in Bikaner exemplifies Serentica’s commitment to accelerating India’s clean energy transformation. This project represents a significant leap forward in delivering large-scale renewable energy solutions for decarbonizing industries at scale. We look forward to completing the wind park and showcasing the full potential of our groundbreaking multi-location hybrid model.”

In 2022, Hindustan Zinc joined the global movement to make India ‘Net Zero’ and set an ambitious target for a 50% reduction in carbon footprint (scope 1 & 2) by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy. Hindustan Zinc recorded a 14% decrease in GHG (greenhouse gas) emission intensity compared to the base year 2020 through increased operational efficiencies and use of advanced technologies, while increasing production each year. The company’s energy stewardship initiatives have already made its operations at Pantnagar Metal Plant run on 100% green power. Additionally, the company has deployed battery electric vehicles (BEVs) in its underground mines and initiated the deployment of 180 LNG vehicles and EV trucks in logistics for inbound and outbound transportation as a step towards reducing Scope-3 emissions by 25% by 2030.

Hindustan Zinc Limited (BSE: HINDZINC and NSE: HINDZINC), a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category by the S&P Global Corporate Sustainability Assessment 2023, reflecting its operational excellence, innovation, and leading ESG practices. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. As a world leader in the metals and mining industry, Hindustan Zinc is pivotal in providing critical metals essential for the global energy transition for a sustainable future. #greenpower #renewablepower #RE #decarbonization #solarpower

About Serentica Renewables

Established in 2022, Serentica Renewables (India) is a decarbonization platform that looks to provide round-the-clock clean energy solutions enabling the transition of large-scale, energy-intensive industries to clean energy. The company is focused on industrial decarbonization, by making renewables the primary source of energy for the commercial and industrial segment which consumes more than 50% of the electricity generated in India. Serentica aims to provide assured renewable energy through a combination of solar, wind, energy storage and balancing solutions. Serentica’s medium term goal is to supply over 50 billion units of clean energy annually and displace 47 million tonnes of CO2 emissions. The company has already secured investments worth $650 million from leading global investor KKR.