Hyundai Motor India targets 100 percent renewable energy by 2025

Hyundai Motor India Limited (HMIL) has recently announced its plans to establish two renewable energy plants in order to achieve its goal of using 100% green power by 2025.

As of June 2024, the company already meets 63% of its energy needs through renewable sources. This initiative positions HMIL as a leader in the automotive sector in India when it comes to adopting renewable energy.

The company will invest Rs 38 crore in developing these facilities through a special purpose vehicle (SPV), which will handle all aspects of the project including engineering, procurement, construction, operations, and maintenance. HMIL will have a 26% equity stake in the SPV, while FPEL will own the remaining 74%. This partnership ensures that HMIL will have a renewable energy supply for 25 years, supporting its commitment to the RE100 benchmark by 2025.

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