Hindustan Zinc Limited (NSE: HINDZINC), India’s largest integrated zinc producer and the world’s second-largest, has announced the signing of a power delivery agreement (PDA) with Serentica Renewables, a leading renewable energy company in India. This new agreement increases Hindustan Zinc’s round-the-clock renewable energy capacity to 530 MW, up from the previous 450 MW agreement, making renewable energy account for over 70% of the company’s total power needs.
This agreement represents a first-of-its-kind round-the-clock renewable power delivery, guaranteeing a consistent 315 MW of uninterrupted energy supply over 15-minute intervals. The project will involve the development of new solar, wind, and energy storage systems across multiple locations, alongside the integration of existing renewable energy projects.
The project will be strategically distributed across high-resource regions in India and is scheduled to be fully operational by 2027. This innovative hybrid model eliminates Hindustan Zinc’s dependence on conventional power sources, ensuring stable, reliable energy through advanced storage systems and market-based mechanisms.
This milestone marks a significant evolution in industrial energy procurement, advancing beyond traditional round-the-clock renewable models to a Time Block-Based renewable energy solution. Unlike conventional agreements, this PDA offers a precisely managed, dispatchable energy supply using a mix of solar, wind, and advanced storage technologies. Serentica is helping industries transition to clean energy without sacrificing stability or operational efficiency. The company plays a crucial role in advancing India’s net-zero goals by providing stable, affordable, and reliable renewable energy to energy-intensive sectors.
Hindustan Zinc has been recognized as the world’s most sustainable metals and mining company for two consecutive years in the S&P Global Corporate Sustainability Assessment 2024. The company is committed to achieving net-zero emissions by 2050 or earlier, focusing on increasing its renewable energy share, improving energy efficiency, and adopting cleaner fuels and electric vehicles. Through these initiatives, the company has reduced its greenhouse gas emissions intensity by 14% compared to 2020 levels. Hindustan Zinc also began receiving renewable energy from Serentica’s 180 MW solar park, which contributed to the production of Asia’s first low-carbon “green” zinc, EcoZen.
Commenting on the partnership, Arun Misra, CEO of Hindustan Zinc Limited, stated, “Sustainability is key to our long-term business strategy. As the world shifts to a low-carbon economy, we are leading this transformation with critical metals like zinc and silver. This agreement significantly advances our climate action strategy, with 70% of our power now coming from renewables. This move will help us reduce carbon emissions by nearly 70% as we work toward our net-zero goal by 2050 or sooner.”
Akshay Hiranandani, CEO of Serentica Renewables, added, “This agreement is a breakthrough in providing consistent, reliable renewable energy to one of India’s largest industrial players. By guaranteeing 315 MW in every 15-minute time block, we are solving the challenge of intermittency and ensuring a stable energy supply for Hindustan Zinc.”
Serentica’s efforts were recently recognized at the 26th S&P Global Energy Awards, where the company won the prestigious “Deal of the Year – Financial” award, highlighting its role in the global energy transition.
Hindustan Zinc is the first company in India’s metals and mining sector to set validated Science-Based Targets Initiative (SBTi) targets aligned with the 1.5°C global warming goal. The company also holds Environmental Product Declaration (EPD) verification for its extensive product portfolio, offering transparent data on the environmental footprint of its products. Hindustan Zinc is ranked in the top 1% of companies in the S&P Global Sustainability Yearbook for the second year in a row and is among the top 66 companies globally across 62 sectors.
A Vedanta Group company, Hindustan Zinc is the world’s second-largest integrated zinc producer and the third-largest silver producer. The company supplies to over 40 countries and holds a 75% market share in India’s primary zinc market. Hindustan Zinc is recognized as the world’s most sustainable company in the metals and mining sector for two consecutive years by the S&P Global Corporate Sustainability Assessment 2024.
It also launched EcoZen, Asia’s first low-carbon “green” zinc, produced using renewable energy and having a carbon footprint about 75% lower than the global average. The company is certified 2.41 times water-positive and aims for Net Zero emissions by 2050 or earlier. Through its CSR efforts, Hindustan Zinc is transforming the lives of 1.9 million people and is ranked among India’s top 10 CSR companies. As a global leader in the metals and mining industry, Hindustan Zinc plays a critical role in supplying essential metals for the energy transition and a sustainable future.
