Hindustan Zinc extends partnership with Serentica Renewables to boost green energy capacity

Hindustan Zinc Ltd said on Tuesday it signed a power delivery agreement (PDA) with renewable energy company Serentica Renewables, aiming to boost its renewable energy capacity up to 530 MW.The Vedanta Group firm informed the stock exchanges in a filing on March 11 that it has strengthened its partnership with Serentica Renewables, augmenting its round-the-clock renewable energy supply to 530 MW from the previously signed power delivery agreements to source 450 MW round-the-clock renewable power from the company.
Hindustan Zinc also said that the PDA is a first-of-its-kind round-the-clock renewables agreement which ensures a minimum of 315 MW uninterrupted power supply through every 15 minute time block.
The new partnership will increase Hindustan Zinc’s overall renewable energy contribution to more than 70% of its total power requirement.Through this agreement, the company will be responsible for building new solar, wind and energy storage across multiple sites throughout the country, along with integrating several existing renewables projects.
The project will be strategically spread across high-resource locations in India, and has been targeted to be fully operational by the year 2027.The hybrid solution ensures Hindustan Zinc’s energy independence by providing uninterrupted and dependable power through advanced storage technology and strategic market mechanisms, eliminating the need for conventional energy sources.

Hindustan Zinc Ltd is the largest integrated zinc producer in India, and the second largest in the world.

The company aims to achieve a Net Zero target by 2050, or sooner, by focusing on decarbonising its operations by increasing the quantum of renewable energy in its energy mix, enhancing operational efficiencies to reduce energy consumption and transitioning to cleaner fuels & electric vehicles.

“This agreement marks a significant step in our climate action strategy. By securing 70% of our power from renewables we are targeting a nearly 70% reduction in carbon emissions, setting sights on our goal of achieving net zero by 2050 or sooner,” said the CEO of Hindustan Zinc, Arun Misra in a press release.

“This agreement is a breakthrough in providing uninterrupted, firm renewable energy to one of India’s largest industrial players. By guaranteeing 315 MW in every 15-minute time block, we’re solving the intermittency challenge and ensuring that Hindustan Zinc has a stable, reliable power supply for its operations,” noted CEO of Serentica Renewables, Akshay Hiranandani.

Shares of Hindustan Zinc were trading nearly flat at ₹425.85 apiece, down 0.2%, on the BSE at 1:16 pm.