Hyundai Motor India Limited — Updates, 21-11-2024: Press Release

Hyundai Motor India Limited (HMIL) is advancing its sustainability efforts by announcing the establishment of two renewable energy plants in Tamil Nadu, comprising a 75 MW solar facility and a 43 MW wind power plant. This initiative supports HMIL's ambitious target to meet 100% of its energy needs through renewable sources by 2025, in alignment with the global RE100 commitment. HMIL has entered into a Power Purchase and Shareholder Agreement with Fourth Partner Energy Limited for this project, investing INR 38 Crore. Upon completion, the plants are expected to generate over 25 crore units of clean energy annually, significantly reducing CO2 emissions by 2 lakh tons each year. This collaboration sets a precedent for renewable energy use in the automotive sector and demonstrates HMIL's commitment to achieving environmental sustainability while potentially enhancing its operational efficiency and brand value. Investors should watch closely for HMIL's progress on these initiatives, positioning the company favorably within the growing renewable energy landscape.