Indian renewables platform Vibrant Energy on Tuesday said it has signed a power purchase agreement (PPA) with Indian UltraTech Cement Ltd (BOM:532538) for a 21.6-MW wind project in the state of Maharashtra.
The project will provide electricity to UltraTech’s multiple facilities in the state, helping the company to reduce its carbon footprint and contributing to its sustainability targets. The share of green power in UltraTech’s power mix is currently around 22%, according to the company’s results report for the quarter through June.
Subscribe for Renewables Now’s Corporate PPA Newsletter here for free!
Vibrant Energy’s wind power project is expected to produce about 72 million kWh a year. Further details of the PPA were not provided.
Vibrant Energy is a portfolio company of Macquarie Asset Management’s Green Investment Group focused on providing renewable energy to businesses.
A recent report by the Global Wind Energy Council (GWEC), meanwhile, highlighted India’s potential to become a key player in the global wind energy supply chain.
