Udaipur (Dr. Tuktak Bhanawat):: Hindustan Zinc Limited (NSE: HINDZINC), India’s largest and the world’s second largest integrated zinc producer, announced the signing of a power delivery agreement (PDA) with Serentica Renewables, a leading renewable energy company in India. The latest power delivery agreement augments Hindustan Zinc’s round-the-clock renewable energy up to 530 MW from previously signed PDA of 450 MW, increasing the overall renewable energy contributionto over 70% of its total power requirement. This is a first-of-its-kindround-the-clock renewables PDA that guarantees a minimum of 315 MWuninterrupted power supplythrough every15-minute timeblock. The resulting project will build new solar, wind and energy storage on multiple sites across the country and integrate several existing renewables projects.
Developed under a captive structure, the project will be strategically spread across high-resource locations in India and is set to be fully operational by 2027.This innovative hybrid solutioneliminates Hindustan Zinc’s reliance on other conventional power sources by delivering seamless, reliable energy through advanced storage systems and market mechanisms.
This landmark agreement marks a fundamental shift in industrial power procurement, moving beyond traditional round-the-clock (RTC) models to an advanced, Time Block-Based firm Renewable Energy solution. Unlike conventional renewable energy agreements, this PDA ensures a precisely scheduled and dispatchable power supply using a combination of solar, wind, and cutting-edge energy storage technologies. Through advanced forecasting, grid management, and energy storage innovations, Serentica is enabling industries to transition towards clean energy without compromising on stability or operational efficiency.Serentica is playing a critical role in advancing India’s net-zero ambitions, leveraging technology-driven solutions to provide firm, reliable, and cost-effective renewable power to energy-intensive industries.
Recognized as the world’s most sustainable metals & mining company for the second consecutive year by the S&P Global Corporate Sustainability Assessment 2024, Hindustan Zinc continues its journey towards achieving Net Zero by 2050 or sooner. The company is focusing on decarbonizing its operations by increasing the quantum of renewable energy in its energy mix, enhancing operational efficiencies to reduce energy consumptionand transitioning to cleaner fuels & electric vehicles. Through these strategic initiatives, the company has achieved a 14% decrease in greenhouse gas (GHG) emissions intensity compared to the base year 2020. Notably, Hindustan Zinc started receiving the first flow of renewable power from Serentica’s 180 MW solar park that was utilized in the production of Asia’s first low carbon ‘green’ zinc – EcoZen.
Speaking on the occasion, Mr. Arun Misra, CEO – Hindustan Zinc Limited, said, “Sustainability at Hindustan Zinc is about future-proofing our business and driving long-term value through innovation. As the world transitions to a low-carbon economy, we embrace our dual role as a leader in this transformation and as an active participant with our critical metals like zinc & silver. This agreement marks a significant step in our climate action strategy. By securing 70% of our power from renewables we are targeting nearly 70% reduction in carbon emissions setting sights on our goal of achieving net zero by 2050 or sooner.”
Mr. Akshay Hiranandani, CEO of Serentica Renewables, added, “This agreement is a breakthrough in providing uninterrupted, firm renewable energy to one of India’s largest industrial players. By guaranteeing 315 MW in every 15-minute time block, we’re solving the intermittency challenge and ensuring that Hindustan Zinc has a stable, reliable power supply for its operations.”
In recognition of its leadership, Serentica was recently honored at the 26th S&P Global Energy Awards, winning the prestigious ‘Deal of the Year – Financial’ award, further cementing its position in the global energy transition.
Hindustan Zinc is the first Indian company in the metals & mining sector to secure validated Science Based Targets Initiative (SBTi) targets, aligning with the ambitious 1.5°C global warming threshold.Further establishing its strong commitment to sustainability, the company’s extensive product portfolio is the first in the country to hold Environmental Product Declaration (EPD) verification thus providing comparable data on the product’s environmental footprint. The company is also recognized among Top 1% in the S&P Global Sustainability Yearbook for the second consecutive year and among the top 66 companies across 62 industry sectors globally. Hindustan Zinc Limited, a Vedanta Group company, is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world’s most sustainable company in the metals and mining category for the second consecutive year by the S&P Global Corporate Sustainability Assessment 2024. Hindustan Zinc is also a certified 2.41 times Water-Positive company. As a world leader in the metals and mining industry, Hindustan Zinc is pivotal in providing critical metals essential for the global energy transition for a sustainable future.
