Vedanta to Source 580 MW Renewable Energy for Pan-India Operations
Vedanta’s board of directors has approved sourcing of 580 MW of Renewable Energy (RE) for its pan-India operations, as stated in Vedanta Ltd.’s press release dated 31st March 2022. Vedanta Ltd. plans to use renewable energy for smelting and associated operations, and to meet power requirements of capacity expansion at Vedanta Aluminium Ltd (Jharsuguda), Balco and Hindustan Zinc.
Vedanta Ltd. has entered into a Power Delivery Agreement (PDA) with affiliates of Sterlite Power Technologies Pvt. Ltd. (SPTPL).
SPTPL will provide Vedanta Ltd. with Solar and Wind power, and energy storage solutions. The PDA will be valid for a period of 25 years from the date of commissioning of the RE supplying project. The renewable energy project will start delivering power to Vedanta Ltd. within 24 months from signing the PDA.
Vedanta has set a target of becoming “Net Zero Carbon by 2050 or sooner”. The company has also stated that it will be “using 2.5 GW of Round the Clock (RTC) Renewable Energy for its operations by 2030”.