Vedanta increases sourcing of green energy to 1 gw; seeks bid to supply another 500 mw

Mumbai-based mining giant, Vedanta has increased the sourcing of green energy to 1 GW for various operations. On Thursday, the company said it is seeking bids for the supply of another 500 mw of renewable energy. Vedanta targets to utilise up to 2.5 GW of renewable power by 2030.

Vedanta‘s Chief Safety Officer and Group CEO Sunil Duggal said, “It is a crucial step in achieving our 2.5 GW of renewable power by 2030. We are looking forward to collaborate with the best in the industry as we march ahead on our decarbonisation goals,” as reported by PTI.

Vedanta has invited expressions of interest for the supply of hybrid renewable power for its manufacturing units in states like Rajasthan, Chhattisgarh, and Odisha.

Earlier, the company had obtained about 580 mw of round-the-clock green energy through Serentica Renewables.

In another development, in its regulatory filing, Vedanta announced that the company has been bestowed with the Golden Peacock GLOBAL Award for Excellence in Corporate Governance – 2022 under the Metals and

Metallurgy category. This is the third time the Company is being honored with this prestigious award.

“This recognition is a testament of Company’s continuous efforts to follow industry and global best practices, and marks as another major milestone in our journey towards sustainably contributing to India’s growth and progress whilst maintaining transparency, reliability, and integrity,” Vedanta said in the filing.

On BSE, Vedanta shares closed at 259.45 apiece up by 1.03%. The company’s market valuation is at 96,442.67 crore.

Earlier this month, Vedanta was declared as the highest bidder for Ghogharpalli and its Dip Extension coal block, located in Sundargarh district, Odisha under Tranche V of the commercial coal block auction conducted by the Ministry of Coal. The mine has total reserves of 1,288 million tonnes and an estimated per annum capacity of 20 million tonnes.

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