- The move furthers the company’s ESG mission for decarbonisation
- Vedanta aims to achieve 2.5 GW Renewable power capacity by 2030
Delhi/Mumbai September 29, 2022: Vedanta Ltd, a global diversified natural resources company, is scaling up its renewable energy sourcing to 1 GW, thus accelerating transition of its operations to green energy. The company invited Expression of Interest (EOI) for an additional 500 MW of renewable energy. Vedanta has set a target to achieve 2.5 GW of renewable energy for its operations by 2030.
Commenting on the development, Vedanta’s Chief Safety Officer and Group CEO, Mr. Sunil Duggal said, “This move furthers our journey towards becoming the ESG leader in the natural resources sector. It is a crucial step in achieving our 2.5 GW of Renewable Power by 2030. We are looking forward to collaborate with the best in the industry, as we march ahead on our decarbonization goals”.
The company has invited reputed, experienced, and financially strong players to submit their Expression of Interest (EOI) to supply Hybrid Renewable Power for its manufacturing facilities located in Rajasthan, Chhattisgarh and Odisha.
Vedanta had previously secured 580 MW RTC renewable energy through Serentica Renewables. Pratik Agarwal, Director, Serentica Renewables shared, “The signing of 580 MW of round-the-clock green power supply agreements with Serentica Renewables is a testament to the strong resolve by Vedanta to decarbonise its energy consumption and achieve the net zero ambitions. Vedanta is setting industry benchmarks for others to follow and is taking bold steps towards reversing climate change.”
Aligned with Vedanta’s ESG vision of “Transforming for Good”, the move is an additional feather in the cap in the series of actions by the company to deliver on its goal of becoming Net Zero Carbon by 2050 or sooner. Vedanta has committed $5 billion over the next 10 years to accelerate the transition to net-zero operations.
Vedanta has been at the forefront of sustainable practices and is leveraging new technologies to safeguard the environment and communities. Guided by the philosophy of `Zero Harm, Zero Waste, Zero Discharge’, Environmental, Social and Governance (ESG) practices are at the heart of Vedanta’s operations which are focused on delivering sustainable and responsible growth thereby creating value for all stakeholders.
About Vedanta Limited:
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. Good governance and sustainable development are at the core of Vedanta’s strategy, with a strong focus on health, safety and environment, and on enhancing the lives of local communities. The group is focused on becoming the ESG leader in the natural resources sector and is committed to reducing carbon emissions to zero by 2050 or sooner. It has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. The group’s CSR philosophy is to eradicate poverty and malnutrition with a focus on development of women & children through the marquee project Nand Ghar.
Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.
For more information, please visit www.vedantalimited.com
Vedanta Limited
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai – 400 099
Registered Office:
Regd. Office: 1st Floor, ‘C’ wing, Unit 103,
Corporate Avenue, Atul Projects,
Chakala, Andheri (East),
Mumbai – 400 093
CIN: L13209MH1965PLC291394
Disclaimer
This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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