Hindustan Zinc powers up with Serentica Renewables

12 Jul 2024 , 12:54 PM

Hindustan Zinc, a firm under the Vedanta group, has commenced receiving power supply from Serentica Renewables. This renewable energy is designated for Hindustan Zinc’s operational units in Rajasthan.

On Global Energy Independence Day, Hindustan Zinc announced the start of the first phase of renewable energy integration from Serentica Renewables. Hindustan Zinc has entered an agreement with Serentica for a continuous supply of 450 MW power.

At the time of writing on July 12, 2024 at 12:52 pm shares of Hindustan Zinc is currently trading at ₹671.70 which is a 0.015% gain than the previous close. The stock has gained a total of 101% in the last one year, and 110% since the beginning of the year.

Currently, Hindustan Zinc possesses a captive solar power capacity of 40.70 MW and relies on conventional fuel sources for the rest of its energy needs.

The renewable power from Serentica will significantly increase the proportion of renewable energy in Hindustan Zinc’s overall energy mix.

This initiative marks a major milestone in Hindustan Zinc’s commitment to sustainability and clean energy. The project aims to reduce about 0.45 million tonnes of CO2 emissions annually.

Hindustan Zinc CEO, Arun Misra, highlighted that this project will not only lessen dependency on conventional fuels but also support the company’s transition towards decarbonizing its operations, fostering a sustainable future.

Akshay Hiranandani, CEO of Serentica Renewables, noted that the ahead-of-schedule commissioning of Phase 1 (solar) in Bikaner showcases Serentica’s dedication to accelerating India’s clean energy transformation.

 Serentica offers renewable energy through solar, wind, energy storage, and balancing solutions.

Vedanta Limited, headquartered in Mumbai, is an Indian multinational mining company with operations in iron ore, gold, and aluminum mines in Goa, Karnataka, Rajasthan, and Odisha.

Hindustan Zinc Limited (HZL), a subsidiary of Vedanta Limited, is an Indian integrated mining and resources producer of zinc, lead, silver, and cadmium. Hindustan Zinc Ltd is recognized as the world’s second-largest integrated zinc producer and the third-largest silver producer. Formerly a Central Public Sector Undertaking, HZL was sold by the Government of India to Vedanta Limited in 2003 during Atal Bihari Vajpayee’s administration.