Vibrant Energy and Saint-Gobain India ink agreement for Round-The-ClockRenewable Energy – EQ Mag
India : Vibrant Energy and Saint-Gobain Indiahave entered along-term PPA to deliver round-the-clock wind-solar hybrid energy to Saint-Gobain’s facilities in India.
As a part of the PPA, Vibrant Energy a portfolio company of Macquarie Asset Management’s Green Investment Group (MAM-GIG)will set up 75 MWac/100 MWdcInterstate Transmission System (ISTS) connected wind-solar hybrid project in Madhya Pradesh.With the addition of this project, Saint-Gobain will achieve a renewable energy footprint of 65% across its facilities in India by the end of 2025.
Mr. Srinivasan Viswanathan, CEO, Vibrant Energy, said, “Vibrant Energy is excited to support Saint-Gobain in its efforts to be carbon neutral and be a strong partner in achieving Saint-Gobain’s 100% sustainability goals. Saint-Gobain’s proactive green initiatives will encourage other industry players to accelerate their net-zero plans.”
Speaking on the partnership, Mr. 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.”
Aligning with India’s goals for a Sustainable Economy, Saint-Gobain India has focused its expansion and development goals in line with sustainable and renewable energy targets. Through various initiatives like shifting of high carbon fossil fuels to natural gas, migration of solid fuels to biomass, waste heat recovery & reuse and circularity actions, the Group in India has attained its mid-term goals set for 2025 much ahead of time. By the end of 2023, the renewable power will replace close to 170 MIL units of electricity required. By 2025, Saint-Gobain India will have 65% of its electricity consumption coming from renewables. Rainwater harvesting, development of urban forest and bio-diversity actions continue to remain key focus areas under climate actions.
ABOUT VIBRANT ENERGY:
Vibrant Energy is a portfolio company of Macquarie Asset Management’s Green Investment Group (MAM-GIG) with a mission to lead the decarbonization initiatives for corporate renewable energy customers and help them to attain a more sustainable, resilient, and low-cost energy future. Vibrant is operating and delivering c. 2GW of renewable energy solutions for corporates.
ABOUT SAINT-GOBAIN:
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures, and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction, and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.
