Hindustan Zinc plans to transition to renewable energy
NEW DELHI: Indian miner Hindustan Zinc plans to transition to renewable energy to power its operations in the next five to seven years, Chairperson Priya Agarwal told Reuters on Tuesday.
“We still have a lot of captive thermal power. It’s not going to shut down tomorrow. It’s going to go on for some time, but we’re very committed to ensure that the transition happens successfully over time,” Agarwal said at the Financial Times (FT) Energy Transition Summit in New Delhi.
More than 90 percent of the company’s emissions come from thermal energy, Agarwal said. Hindustan Zinc has a captive thermal power capacity of 514 megawatts.
India is looking to lower greenhouse gas emissions and boost the share of non-fossil fuels in electricity generation. However, Prime Minister Narendra Modi’s government has defended domestic reliance on coal, citing increasing energy requirements in the world’s most populous country.
Hindustan Zinc is majority-owned by metals-to-oil conglomerate Vedanta Ltd, which, in turn, is controlled by UK-based Vedanta Resources. The Indian government holds most of the remaining stake in Hindustan Zinc.
In May, the CEO of Vedanta Ltd’s aluminium business told Reuters that the firm will no longer add coal-fired capacity.
(Business Standard)
The post Hindustan Zinc plans to transition to renewable energy appeared first on DailyNews.