Vibrant Energy, Saint-Gobain Sign PPA for Round-the-Clock Renewable Energy

Vibrant Energy, Saint-Gobain Sign PPA for Round-the-Clock Renewable Energy

Corporate renewable energy solutions provider Vibrant Energy and Saint-Gobain India have entered into a long-term PPA for the delivery of round-the-clock wind-solar hybrid energy to Saint-Gobain facilities in India. Vibrant Energy is a portfolio company of Macquarie Asset Management’s Green Investment Group (MAM-GIG).

As a part of the PPA, Vibrant Energy will set up 75 MWac /100 MWdc Interstate Transmission System (ISTS) connected wind-solar hybrid project in Madhya Pradesh.

With the addition of this project, Saint-Gobain will achieve a renewable energy footprint of 65% across its facilities in India by the end of 2025.

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Srinivasan Viswanathan, CEO, Vibrant Energy, said, “Vibrant Energy is excited to support Saint-Gobain in its efforts to be carbon neutral and be a strong partner in achieving Saint-Gobain’s 100% sustainability goals. Saint-Gobain proactive green initiatives will encourage other industry players to accelerate their net-zero plans.”

Speaking on the partnership, B Santhanam, CEO – Asia Pacific and India Region, Chairman at Saint-Gobain India, said, “The PPA is a significant step forward to not only meet the country’s 500 GW renewable energy target but also increase the use of renewable energy sources in the manufacturing sector. Our commitment towards sustainability is at the core of our business strategy, and this partnership is a significant step towards achieving our goal of 100% renewable energy by 2030.”

The renewable energy business of Vibrant Energy is expanding fast. Recently, the firm placed an order totaling 149 MW with Envision Energy (Envision) for 45 wind turbines with a capacity of 3.3 MW each, with delivery expected to commence from Q3FY24 onwards.

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Vibrant Energy also secured more than Rs 2,200 crores of project financing from Power Finance Corporation Ltd for establishing 300 MW (AC) of wind-solar hybrid projects in Madhya Pradesh and Karnataka.