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Vedanta Ltd, an Indian metals-to-oil conglomerate, will no longer add coal-fired capacity, according to its CEO, in the company's most significant shift towards renewable energy yet.
According to a Reuters interview with John Slaven, Vedanta Aluminium, the nation's largest metal producer, wants to use 30% more renewable energy by 2030 compared to its current usage of roughly 5%. The company's capacity to generate coal-based power is currently 4.8 GW.
Slaven stated that the business was getting supplies of 1.3 GW of renewable energy from Serentica Renewables in India, which is a combination of wind and solar electricity. India is the third-biggest emitter of greenhouse gases globally. Approximately half of India's 443 GW installed power capacity is derived from coal.
Although India seeks to cut greenhouse gas emissions and boost the share of non-fossil fuels in electricity generation, Prime Minister Narendra Modi's government has defended the country's reliance on coal, citing growing energy requirements in the world's most populous country. India has tried to attract private investment to help boost coal-fired power generation capacity by 80 GW by 2032.
Also Read : Tata and Jindal among top five companies to bag ₹1,586 cr Railways order Vedanta in talks with investors & IHC unit for Zambian copper stake sale
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