Hindustan Zinc Begins Renewable Energy Integration from Serentica’s 180 MW Solar Project

On July 11, 2024, Hindustan Zinc, India’s largest and the world’s second-largest integrated zinc producer, began the first phase of integrating renewable energy from Serentica Renewables.

This energy will power Hindustan Zinc’s operations in Rajasthan. Recognised as the world’s most sustainable metals and mining company by S&P Global Corporate Sustainability Assessment 2023, this move is a significant step towards reducing carbon emissions.

Power Delivery Agreements

Hindustan Zinc has signed Power Delivery Agreements with Serentica for 450 MW of round-the-clock renewable energy. Serentica has started supplying power from its 180 MW solar project, making Hindustan Zinc one of the few zinc producers globally to adopt green energy.

Previously, Hindustan Zinc had 40.70 MW of captive solar power and relied on conventional fuels for the rest. The new renewable energy supply will increase the share of green energy in their overall mix, aiming to cut about 0.45 million tons of CO2 emissions annually.

Serentica’s 1,200-acre Bikaner power park is a key part of its strategy. It combines solar and wind energy from various locations. This project will help reduce about 2.7 million tons of CO2 emissions annually, supporting India’s sustainability goals.

Mr Arun Misra, CEO of Hindustan Zinc, commented, “At Hindustan Zinc, sustainability is the guiding principle shaping every business decision. We remain proactive in investing in our climate action initiatives, progressing to net zero by 2050 or sooner. This project will reduce our dependency on conventional fuels, minimise our total environmental footprint, and aid our transformation towards decarbonising our operations, paving the way for a fully sustainable future.”

About Hindustan Zinc Limited

Hindustan Zinc Limited, part of the Vedanta Group, is the world’s second-largest zinc producer and third-largest silver producer. Supplying to over 40 countries, it holds around 75% of India’s primary zinc market. Recognised as the most sustainable company in the metals and mining sector by S&P Global Corporate Sustainability Assessment 2023, it excels in operations, innovation, and ESG practices.

On July 12, 2024, the share price of Hindustan Zinc Ltd opened at ₹679.95, touching the day’s high of ₹684.00 as of 09:58 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.