Saint-Gobain signs PPA with Vibrant Energy
Construction and industrial products major Saint-Gobain has signed a power purchase agreement (PPA) in India with Vibrant Energy to provide wind-solar electricity to six local sites.
Chennai: Construction and industrial products major Saint-Gobain has signed a power purchase agreement (PPA) in India with Vibrant Energy to provide wind-solar electricity to six local sites.
Vibrant Energy is a portfolio company of Macquarie Asset Management's Green Investment Group (MAM-GIG). The 20-year PPA will begin delivery in 2024 and bring the renewable electricity share in India to 65 per cent in 2025, Saint-Gobain said.
Under the agreement, Vibrant Energy will provide Saint-Gobain with 189 GWh of renewable electricity (solar and wind) per year, thus reducing Saint-Gobain's CO2 emissions in India by around 120,000 tonnes per year.
