UPL to set up hybrid solar-wind project in Gujarat in JV with CleanMax

[ad_1]

New Delhi: Agro-chemical firm UPL Ltd. on Friday announced a joint venture with CleanMax Enviro Energy Solutions (CleanMax), a Mumbai-based renewable energy company, to set up a hybrid solar-wind energy power plant in Gujarat.

In a regulatory filing, UPL said CleanMax Enviro Energy Solutions will develop and maintain a hybrid 28.05 MW solar and 33 MW wind power project under captive model as envisaged under the electricity laws.

This project will enable UPL to increase its renewable energy usage to 30% of its total global power consumption from the current level of 8%.

Due to their complementary nature, wind solar hybrid power plants are highly efficient, providing reliable and continuous power supply that helps to effectively manage power loads.

“At UPL, we are committed to Reimagining Sustainability internally as well as with our farming partners. Ensuring we have access to reliable, clean energy will help realize that vision as we significantly reduce our carbon footprint. We look forward to welcoming CleanMax to our OpenAg network through this partnership and are excited to be joining India’s green energy wave,” said Jai Shroff, clobal CEO of UPL.

“This 61.05 MW captive wind solar hybrid project is a part of a larger wind solar hybrid farm developed by CleanMax in Gujarat. The overall capacity of the CleanMax wind solar hybrid farm stands at over 400 MW; comprising 230 MW wind and 180 MW solar; leading to carbon abatement of 8.75 Lakh tonnes of CO2 equivalent per annum,” said Kuldeep Jain, founder and managing director, CleanMax.

“We are excited to partner with UPL. The hybrid plant combines wind and solar power to maintain a consistently high supply of renewable energy to UPL across months and different times of the day,” he added.

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.

More
Less

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Post your comment

[ad_2]

Source link