Hyundai Motor India (HMIL) has partnered with Fourth Partner Energy (FPEL) to establish renewable energy plants at its manufacturing facility in Tamil Nadu.

The initiative involves a Rs 38 crore investment and will feature a 75 MW solar plant and a 43 MW wind power plant. This collaboration is aimed at fulfilling Hyundai's renewable energy requirements for the next 25 years, with plans to transition to 100 percent renewable electricity by 2025

The two power plants will be developed under a group captive model, with a special purpose vehicle (SPV) to oversee engineering, procurement, construction, and maintenance.

HMIL will hold a 26 percent equity stake in the project, while FPEL will own the remaining 74 percent. This long-term agreement ensures a reliable supply of renewable energy to the automaker, set to meet its sustainability targets.

The new plants in Tamil Nadu will further enhance Hyundai's RE portfolio and contribute to its commitment to clean, sustainable energy across its manufacturing operations.

Hyundai's move is aligned with the global RE100 initiative, a corporate renewable energy campaign supporting companies aiming for 100 percent renewable electricity. As of June 2024, HMIL sources 63 percent of its energy from renewable sources.