Vedanta surpasses 1 GW renewable energy mark, targets 2.5 GW by 2030

Vedanta has increased its clean energy capacity to 1.03 GW and aims to achieve 2.5 GW by 2030 as part of its strategy to reach net zero carbon emissions by 2050 or earlier

Indian mining and metals firm Vedanta Ltd on Wednesday said it has increased its renewable energy power capacity to 1.03 GW. The company said it is on track to achieve its goal of reaching 2.5 GW of clean energy by 2030.

 

According to a statement, the company has ramped up its round-the-clock equivalent renewable power capacity to 1.03 GW through power delivery agreements.

 

Vedanta stated that it aims to achieve net zero carbon emissions by 2050 or sooner.

 

Emission mitigation potential and technologies used 

“The 1 GW renewable energy will potentially enable Vedanta to mitigate more than 6 million tonnes of carbon emissions annually. This is roughly equivalent to carbon sequestration by nearly 350 million trees annually,” the company said.

 

 

Vedanta has adopted a combination of wind, solar, and pump storage technologies for its renewable energy projects.

 

Focus on sustainability and growth 

Priya Agarwal Hebbar, non-executive director, Vedanta Ltd and chairperson, Hindustan Zinc Ltd, said, “Our integrated approach to resource management and sustainability is central to Vedanta's vision of transforming for a sustainable future.”

 

“As the Indian economy expands, Vedanta is undergoing a transformation that will support the rapidly growing needs of the economy. By expanding our production of critical minerals and investing in renewable energy, we are powering global efforts to combat climate change,” she added.

 

Hebbar is the daughter of Vedanta founder Anil Agarwal.

 

Restructuring and market update 

Vedanta is undergoing a major restructuring, spinning off its businesses into five independent, pure-play entities.

 

Shares of Vedanta Ltd closed 0.67 per cent higher on Wednesday at ₹436.80, marking a rise of ₹2.90.