DIL – stands for Decarbonization for India’s Leaders – is a platform at EAI where we provide decarbonization and climate action highlights for India’s corporate leaders.
DIL Weekly is a weekly digest of these highlights. See all DIL Weekly issues from here.
Get all DIL updates from here.
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DIL Weekly Second Edition – July 3rd Week 2024
1. Vedanta Aluminium Expands Electric Forklift Fleet to Enhance Sustainability Efforts in India
- “Expanding our electric forklift fleet is a significant step towards our sustainability goals,” said John Slaven, CEO of Vedanta Aluminium. The company has added 27 new electric forklifts (totaling 66), which will cut diesel consumption by 2.5 lakh liters annually and reduce carbon emissions substantially. These lithium-ion battery-powered forklifts improve operational efficiency and support Vedanta’s target of net-zero carbon emissions by 2050. This initiative aligns with Vedanta’s broader strategy to integrate green technologies, highlighting their commitment to environmental sustainability and innovation.
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2. Hindustan Zinc Integrates Renewable Energy to Advance Decarbonisation Efforts
- “Hindustan Zinc is committed to pioneering renewable energy integration in our operations,” stated Arun Misra, CEO of Hindustan Zinc. The company has significantly advanced its decarbonization efforts by integrating 475 MW of renewable energy capacity, including solar and wind projects. This initiative aims to reduce carbon emissions by 1.5 million tons annually. The company’s approach includes innovative technologies and partnerships, emphasizing sustainability and environmental responsibility. Hindustan Zinc’s efforts align with global climate goals and underscore their leadership in the mining sector’s transition to clean energy.
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3. Sumant Sinha to Lead Global Climate Action as Co-Chair of, Alliance of CEO Climate Leaders
- Sumant Sinha, Chairman and CEO of ReNew, has been appointed Co-Chair of the Alliance of CEO Climate Leaders, the world’s largest CEO-led climate alliance under the World Economic Forum. The Alliance represents $4 trillion in revenues and 5.2 GT of carbon emissions, equivalent to 10% of global emissions. ReNew, committed to net zero by 2040, has mitigated over 21 million tons of carbon emissions in the past two years and boasts a portfolio of 21.4 GW. Sinha will drive strategic climate initiatives and public-private collaborations globally.
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4. TECNIMONT and NEXTCHEM Inaugurate GAIL’s Green Hydrogen Plant in India
- Tecnimont Private Limited and NEXTCHEM have inaugurated India’s first green hydrogen production plant at GAIL’s Vijaipur facility in Madhya Pradesh. The plant, featuring advanced 10-megawatt electrolyzers, will produce 4.3 tons of green hydrogen daily. This project supports India’s Hydrogen Mission, aiming for 5 million tons of annual green hydrogen capacity by 2030, and contributes to the nation’s energy independence and net-zero emissions targets. It marks a significant advancement in India’s green energy transition, leveraging cutting-edge technology for sustainable development.
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5. ONGC Outlines Strategy for Achieving Net Zero Emissions Target by 2038
- Arun Kumar Singh, Chairman & CEO of ONGC, announced a comprehensive strategy to achieve net-zero emissions for Scope 1 and Scope 2 by 2038. The plan involves a Rs 2 trillion investment in renewable energy, starting with onshore wind and solar projects. ONGC aims to reduce nine million tons of CO2 emissions annually, with significant projects in Gujarat, Maharashtra, Andhra Pradesh, Tamil Nadu, and Assam. The roadmap also includes electrifying assets in the North-Eastern Region and developing compressed biogas, biodiesel, green hydrogen, and battery energy storage systems.
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6. Rays Power Infra Forms Subsidiary for Gigawatt-Scale Solar and Battery Storage Manufacturing
- Ketan Mehta, CEO of Rays Power Infra, highlighted the company’s strategic move to create a wholly-owned subsidiary focused on manufacturing solar modules, cells, and battery energy storage systems (BESS) at a gigawatt scale. This initiative supports their existing EPC and development services while ensuring quality and supply chain control. The subsidiary will establish large-scale manufacturing facilities, emphasizing securing land and state incentives. Mehta mentioned technology-sharing agreements with global leaders to ensure the products meet international standards, enhancing their competitive edge.
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7. Gautam Solar Files Patent for Solar Panel Packaging Pallet
- Gautam Mohanka, CEO of Gautam Solar, highlights the company’s patent filing for an innovative packaging pallet designed to improve the efficiency and safety of solar panel transportation. The new design, suitable for 144-cell Mono PERC & TOPCon solar panels, features a robust wooden base separator that minimizes damage during transit. This packaging solution optimizes space in canter trucks and simplifies loading and unloading. Gautam Solar, committed to innovation, aims to expand its solar module capacity to 5 GWp by FY2025-26.
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8. India Targets 3% of APAC’s Offshore Wind Capacity by 2033 with Bold Funding Initiative
- India plans to capture 3% of the Asia-Pacific’s offshore wind capacity by 2033, supported by a USD 890 million Viability Gap Funding (VGF) scheme. Bhupinder Singh Bhalla, Secretary of India’s Ministry of New and Renewable Energy, detailed the goal to develop 1 GW offshore wind projects in Gujarat and Tamil Nadu. The initiative includes enhancing port infrastructure and leveraging 70 GW of identified offshore wind potential along India’s coasts. This aligns with India’s target of 500 GW of non-fossil fuel capacity by 2030 and a 50% renewable energy mix.
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9. Waaree Energies Subsidiary Indosolar Launches 1.3 GW Solar Module Facility in Greater Noida
- Hitesh Doshi, Chairman and Managing Director of Waaree Energies, expressed enthusiasm about the launch of the 1.3 GW solar module manufacturing facility. He emphasized the strategic importance of this facility in enhancing India’s domestic solar manufacturing capabilities, reducing dependency on imports, and contributing to the nation’s renewable energy goals. Doshi highlighted the plant’s role in creating over 2,000 jobs and supporting India’s target of achieving 280 GW of solar capacity by 2030, aligning with the government’s push for self-reliance in the energy sector.
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10. Green Energy to Power Industrial In-House Demand, Says Eversource CEO Dhanpal Jhaveri
- Dhanpal Jhaveri, CEO of Eversource Capital, emphasizes the critical role of green energy in meeting industrial in-house demand in India. Jhaveri highlights the strategic investments by Eversource Capital in renewable energy, e-mobility, and waste-to-energy projects. He points out that supportive government policies and incentives are crucial in accelerating the transition to sustainable energy solutions. Jhaveri also underscores the importance of private investment in driving the green growth agenda, which aligns with India’s ambitious renewable energy targets and climate goals.
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