Saint-Gobain, a major player in construction and industrial products, has inked a power purchase agreement (PPA) with Vibrant Energy in India. The agreement, lasting 20 years, will commence in 2024 and enable the supply of wind-solar electricity to six local sites.
As per Saint-Gobain, this PPA will contribute to India's renewable electricity share reaching 65 per cent by 2025. Vibrant Energy, a subsidiary of Macquarie Asset Management's Green Investment Group (MAM-GIG), will deliver 189 GWh of renewable electricity annually, encompassing both solar and wind sources. Consequently, this move is expected to curtail Saint-Gobain's CO2 emissions by approximately 120,000 tonnes per year within India.
B Santhanam, the CEO-Asia Pacific and India Region and Chairman of Saint-Gobain India, stated that this PPA represents a significant stride towards meeting the nation's target of 500 GW of renewable energy and promoting the use of renewable sources in the manufacturing sector. Furthermore, it aligns with Saint-Gobain's broader business strategy and aspiration to achieve 100 per cent renewable energy by 2030.
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